Under the agreement, the three companies will establish a Russian-based venture to manufacture, market and service highly efficient industrial gas turbine units. The Russian Technologies state corporation and energy trader Inter RAO will each hold 25% of the new company, while US-based General Electric will own 50% of the shares. The tentative plan is to produce the turbines near the town of Rybinsk in the Yaroslavl Region.

General Motors and Russian Technologies also plan another venture: to manufacture, market and service high-tech diagnostic equipment such as CT scanners, angiographs, MRI machines, USG machines and other equipment.

Following the ceremony, Prime Minister Vladimir Putin congratulated all those present and wished GE success on the Russian market.