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National Interests: Priorities and Security

Modernization and innovation development of the Russian power engineering industry

Vol. 10, Iss. 18, MAY 2014

Available online: 9 May 2014

Subject Heading: Priorities of Russia

JEL Classification: 

Pages: 17-29

Matiushok V.M. Peoples' Friendship University of Russia, Moscow, Russian Federation

Zhukov V.S. Peoples' Friendship University of Russia, Moscow, Russian Federation

The article considers the industry's current structure and its main problems: poor management and property structure, depreciation of fixed assets, obsolete technologies and lack of qualified personnel. These issues result in low productivity, high costs and product energy intensity, as well as the decline of competitiveness and demand for products. The authors provide integrated modernization solutions for the industry: support of demand for Russian industrial products, technical modernization, personnel training, development of public-private partnerships, cooperation with foreign companies, localization of production facilities, and other ways of innovative development.

Keywords: power engineering, power and energy, national manufacturing and engineering companies, modernization, innovative development, engineering companies, power equipment


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