The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and France’s Schneider Electric, a global expert in energy management and automation, have agreed terms on joint investments of up to RUR 3bln in one of Russia’s leading electrical equipment manufacturers, Electroshield Samara. The announcement was made during the St. Petersburg International Economic Forum.
Electroshield Samara provides equipment and services to some of Russia’s largest companies (Russian Railways, Gazprom, Rosneft, Surgutneftegaz, etc.). Currently, Electroshield Samara is implementing a comprehensive modernization program to improve production and strengthen its competitive position in the Russian electrical equipment market, that has an estimated capacity of RUR 150 bln. Funds invested will contribute to the creation of competitive domestic equipment based on the company’s own R&D.
Leonid Mukhamedov, Executive Vice President, Strategy, Member of the Board, Schneider Electric, Chairman of the Board, Electroshield Samara, said: “Electroshield Samara is one of the largest and oldest Russian manufacturers of electrical equipment, which continues its progressive development in the modern world. In 2013, Electroshield joined the global company Schneider Electric, gaining access to the best international practices. The enterprise has introduced lean production and quality management systems, and launched new product categories, including within alternative energy. Our partnership with the Russian Direct Investment Fund will allow Electroshield Samara to continue production modernization and expand the scope of its equipment application in projects across Russia”.