Siemens and the Russian State Atomic Energy Corporation Rosatom today signed a Memorandum of Understanding on the creation of a joint venture in the field of nuclear energy. The joint venture plans to push ahead with further development of Russian pressurized water reactor (VVER) technology. It also intends to handle marketing and sales, and the construction of new nuclear power plants as well as modernization and upgrades of existing plants. The joint venture may take up business opportunities along the entire nuclear conversion chain from fuel fabrication to decommissioning of nuclear power plants.