Russian Prime Minister Vladimir Putin said on February 3 that Russia was ready for a “full-scale partnership” with German engineering giant Siemens in the civilian nuclear energy industry, Interfax reported. “We are ready to move on to the creation of a full-scale partnership between Siemens and our company Rosatom, which could work actively in Russia, Germany and in the markets of third countries,” Putin said in a meeting with Siemens CEO Peter Loescher in Moscow.

Loescher told journalists earlier the Russia’s state-owned nuclear civilian energy firm was a “possible partner,” as the company undertook to form a new joint venture after the break-up of its partnership with France’s Areva. Loescher did not say what stake Siemens would have in a joint partnership. Under Russian law, a committee headed by Putin must approve foreign investments in so-called strategic sectors of the Russian economy, including nuclear energy.

Siemens dissolved its cooperation with French nuclear reactors producer Areva two weeks ago, announcing it would be seeking a new international partner for nuclear energy ventures. Siemens, which has a long track record of business in Russia, also declared plans on February 2 to build its first factory in the country since the fall of the Soviet Union.