Penza, 27 February 2012. PenzaNews. The joint venture on working out and manufacturing of diesel engines for railway, ship and stationary application of LTD “Transmashholding” and the Finnish company “Wärtsilä” will be constructed in Penza on an industrial platform of PLC “Penzadizelmash” by 2013. It was declared by representatives of both companies during project presentation on Saturday, February 25.

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General director of “Wärtsilä Diesel Engine Company” (WTEC) Zeljko Starcevic, the chief manager of department of industrial projects of “Wärtsilä East – branch in Moscow” Henri Kunnunen and also the project head, the chief specialist of group engine manufacturing LTD “Transmashholding” Igor Ovchinnikov presented 3D-project of factory to the governor of the Penza region Vasily Botchkarev.

Participants of presentation informed that the agreement on creation of joint venture on manufacture of modern multi-purpose diesel engines in Russia was signed by Russian company and “Wärtsilä” on May 27, 2010 in Finnish city Lappeenranta in presence of the chairman of the government of Russia Vladimir Putin and prime minister of Finland Matti Vanhanen.

According to the agreement, it was decided to organize a holding company with shares 50/50 to build a new factory on the area of 20 thousand sq. meters on the site of PLC “Penzadiselmash”.

According to Igor Ovchinnikov, annual volume of output will be 250 engines and by 2015 it will have increased by 273 diesel engines a year. 67.2 million euro revenue is planned.

According to Zeljko Starcevic, new enterprise will be equipped with modern equipment for assemblage and tests of engines, lines for machining of blocks of cylinders, rods and covers of cylinders. Also creation of modern test base for carrying out research and developmental works is provided.

The volume of general investments will be 1.8 billion rubles.

“300 are planned to be employed, 240 labors and 60 managers. Thus some specialists should be trained in Finland as qualification of the personnel is very important for us,” general director of WTEC underlined.

The governor of the Penza region Vasily Bochkarev thanked the Russian and Finnish parties for creation new hi-tech enterprise in the region and promised that regional and city authorities would help investors.

In turn, Zeljko Starcevic expressed hope that this factory is a good gift for 350th anniversary of the city.