Russian company Atomstroyexport, which is engaged in the construction of nuclear power plants, and Almaz-Antey, which caters to the military industry, have signed a memorandum that will see them co-operate on building power facilities, including nuclear power plants.

The companies hope that co-operation will be able to capitalize on the growing demand for electricity and new generating capacities.

Atomstroyexport said that it is seeking to promote nuclear power plant projects in both Russia and abroad by developing innovative technologies, supporting research and involving highly developed defense and manufacturing companies in the nuclear power industry.

Atomstroyexport and Almaz-Antey have agreed to jointly implement investment projects in power engineering in order to help meet the growing demand for electricity.