Government will provide state guarantees for credit to modernize Turboatom

Prime Minister Yulia Tymoshenko has announced that the government plans to provide state guarantees to attract a low-interest $100 million loan to modernize Kharkiv-based Turboatom.

The head of government believes that the company has the potential to supply the domestic nuclear energy industry with turbines and buildings for reactors.

Yulia Tymoshenko noted that Turboatom is involved in the construction of the Dniprovsky Hydro-Electric Station and building reactors for nuclear power plants.
She noted that over the past two years the company’s profits have increased more than fourfold, and production more than 2.5 times.

Yulia Tymoshenko also stated that the government will protect the company from a possible raider attack. "I think that after the spring I will be able to protect you even more. You can be certain that I will never allow a raider attack on this plant. I think we will put an end to all the battles involving this plant once we end all these political competitions. I think we will never return to those raider actions, and the country losing time, land, forests, and gas fields," she said.

She added that her government believes it’s a great achievement that Turboatom’s products are sold to 45 countries.

Kharkiv-based Turboatom is among the leading turbine building companies all over the world and the only one of its kind in Ukraine. The enterprise specializes in production of steam turbines for thermal power plants, nuclear power plants and heat power plants, hydraulic turbines for hydro power stations and pumped-storage power plants; gas turbines and steam-gas units for TPP and other power equipment.

During her December 2 meeting with the Brazilian delegation headed President Luiz Inacio Lula da Silva, Prime Minister Yulia Tymoshenko said she believes Turboatom can become a reliable partner for supplying equipment for Brazilian hydroelectric power stations.

"We can be a partner because Turboatom wins many tenders in other countries to supply energy equipment," she said.