Power Machines is the winner of the Leaders of Russian Business: Dynamics and Responsibility All-Russian Contest in the Best Import Substitution Project category

On March 16, 2017, the jubilee Congress of the Russian Union of Industrialists and Entrepreneurs (RSPP) was held in the framework of the Russian Business Week. The event was opened by Alexander Shokhin, President of the RSPP. The Congress was attended by Russian President Vladimir Putin, members of the Government of the Russian Federation, heads of leading Russian companies, heads of subjects of the Russian Federation, and representatives of the foreign business community.

The Congress summed up the results of the Leaders of Russian Business: Dynamics and Responsibility – 2016 All-Russian Contest. PJSC Power Machines was announced the winner in the Best Import Substitution Project category. During the awards ceremony held at the Congress, the winner's diploma was presented to Alexey Mordashov, Chairman of the company's Board of Directors, Chairman of the Board of Directors of PJSC Severstal, Vice-President, Chairman of the Committee for Integration, Trade and Customs Policy and WTO of the RSPP.

The project of PJSC Power Machines titled "Localization of Power Transformers Production in the Territory of Russia" (Power Machines – Toshiba. High-Voltage Transformers LLC) was evaluated against a number of criteria such as the share of imports in the market, the share of the market for import-substituting products, the amount of investment in the project, and the volume of products sold in 2015–2016.

The design capacity of Power Machines – Toshiba. High-Voltage Transformers is more than 10,000 MVA per year, and an average annual output is up to 60 transformers (110–750 kV power transformers and 220–750 kV autotransformers). At the launch of the project, the share of imports in the transformer market was 70%. The implementation of the project will make it possible to reach a 25% share of import-substituting products in the Russian market. The volume of products sold in 2015–2016 is 4,624 MVA, including 335 MVA exported to other countries. Investments in the project amounted to nearly 5 billion RUB.

The positive externalities generated by the project were assessed separately (the positive impact of the project implementation on adjacent sectors of the economy, the improvement of the life quality of the population, the development of the territories).

The Leaders of Russian Business: Dynamics and Responsibility All-Russian Contest has been held by the Russian Union of Industrialists and Entrepreneurs (RSPP) on an annual basis since 1997. Its main goal is to identify dynamically developing and socially responsible companies on the basis of their economic and social performance indicators for the year. It is the most prestigious and authoritative contest of its kind in Russia.

During the contest, the best companies were determined in several categories, including Dynamic Business Development, Best Import Replacement Project, Development of Intersectoral Partnership in Resolving Social Problems of Territories, High Quality of Sustainable Development Reporting, Advances in Occupational Health and Safety of Employees, Human Resources Development, and Environmental Responsibility.