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GE and Transmashholding set new diesel engine JV 

GE and Transmashholding set new diesel engine JV 
Transmashholding diesel engine

General Electric (GE) and Transmashholding (TMH) have agreed to establish Penza diesel engines joint venture company at Penza (Russia), specialising in the production and maintenance of diesel engines. The agreement was signed by Andrei Bokarev, President of Transmashholding,  and  Ron Pollett, President and CEO of GE in Russia and CIS,  in the framework of St. Petersburg International Economic Forum. 

The new JV will start activities in 2017. The engine production will be carried out at a newly built plant and will include GEVO diesel engines of 1600 kWh to 4,700 kWh capacity. In accordance with the approved business plan, Penza diesel engines will  initially produce 250 diesel engine/year. 

The partners expect that the joint production will expand its offer of diesel engines, will provide high quality products and will also expand internationally. 
In February 2016, GE and Transmashholding signed a strategic business plan providing for the launch of the 50-50 JV. The companies planed to invest over $70 million in the plant and related equipment, training, and technology.

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