General Electric Co. has inked two separate deals in Russia that could generate between $10 billion and $15 billion in sales.
The agreements focus on energy and healthcare. The energy deal allows GE to manufacture and sell natural gas turbines in the country. The healthcare deal clears GE to make and sell high-tech medical diagnostic equipment.
The products will be built in Russia, with GE running the operation. GE will start building a plant for its turbine operation later this year.
On the healthcare side, GE will start making CT scanners and then expand to other types of diagnostic equipment. GE estimates Russia has a need for about 3,000 CT scanners. The country plans to spend more than $30 billion by 2014 on health care, according to the Fairfield, Conn.-based conglomerate. The health care business is a joint venture with Russian Technologies.
GE has been working in the country since the early 20th century. Its Russian operation, headquartered in Moscow, crosses a variety of fields including healthcare, transportation, aviation, electrical power, oil and gas, water treatment and financial services.