WASHINGTON, D.C. (May 9, 2017) -- Siemens and Chromally Gas Turbine Corporation this week announced a $130 million joint venture to manufacture turbine blades and vane cast components for power generation.

According to a Siemens release, the the new casting facility will operate under the company named of Advanced Airfoil Components. The venture is expected to create around 250 new jobs, with the first product shipment slated for 2018.

Front Row from left:Michael Cropper, Christy Bermensolo, Michael Michaud, John White, Jr., George Harris, John Kahren, Oakley Roberts, Peter Barry, Ken Napolitano; Back Row from left: Kim Jackson, Mark Johnson, John Donatiello, Brent Ross, Mark Kreinbihl, John Miersma, Delancey Davis, Jeremy Frank, Mark Chaffee; Not pictured: Al Huber, Stan Knecht