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Industry News
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10.10.2007
Rusal to Grow on Atom
UC Rusal has chosen a construction site for the world’s largest energy metallurgical complex worth USD 6 to 7 billion. An aluminum smelter with a production capacity of 1.05 million tons per annum will be constructed in the Saratov Region concurrently with two new units of Balakovo NPP having a total capacity of 2,000 MW. However, implementation of this project depends to a great extent on the ability of Russian mechanical engineers to expand their capacities.
08.10.2007
Bushehr NPP Construction Problem to Be Solved Soon – Khosseini
The Bushehr NPP construction problem will be solved before the summit of the Caspian states in Tehran scheduled for the middle of October, RIA Novosti quotes Iran’s Foreign Ministry as thinking. The Iranian side expects that “specific results will be achieved in the situation around Bushehr NPP” before the start of the summit, Mohammad Ali Khosseini, a spokesperson for Iran’s Foreign Ministry, told journalists on Sunday.
05.10.2007
Sakhalinenergo Waiting for Investors
OJSC Sakhalinenergo is looking for investors to develop the island’s energy system. Talks are already under way with UC Rusal, OJSC Gazprom, and OJSC Rosneft. However, the trouble is that Sakhalinenergo needs 20 times more investment than the price of the company at present.
26.09.2007
Foreign Direct Investment Funds to Come to Russian Power Industry – Deutsche Bank
Foreign direct investment funds will come with their investment in the Russian power industry in several years, said Deutsche Bank managing director Mikhail Butrin at the investment forum in Sochi.
24.09.2007
Increasingly More Emphasis Being Laid on Using Investment Rather than Attracting It in Russian Power Industry
Increasingly more emphasis in the Russian power industry is being laid on using investment rather than attracting it, RAO UES of Russia Management Board Chairman Anatoly Chubais said at an investment forum in Sochi.
24.09.2007
Enel Sets Records
The Italian energy company Enel is ready to invest another $3 billion in the Russian power industry, said the company’s leader Fulvio Conti in Sochi on Friday. The company noted that the money to be spent on raising its share in Wholesale Generation Company No. 5 (WGC-5) is not included in this amount.
21.09.2007
Sources: Fortum Interested in TGC-2, TGC-10 and WGC-1
Finnish power concern Fortum, which has not so far got any generation assets in the course of RAO UES of Russia reform, is interested in TGC-2, TGC-10 and WGC-1, a source close to the Russian power holding company has told Interfax.
21.09.2007
RAO UES Disposes of 3 Power-Selling Companies
RAO UES of Russia sold on Wednesday its equity stakes in three power-selling companies, namely: Voronezh Power-Selling Company, Tver Power-Selling Company and Karelia Power-Selling Company.
21.09.2007
Dmitry Akhanov, RAO UES of Russia Strategy Department Director: ‘RAO UES of Russia’s Reorganisation Profitable to Shareholders’
One of the nation’s largest natural monopolies, RAO UES of Russia, will cease to exist on 1 July, 2008. This matter can be considered practically decided. The government which is RAO UES’s majority shareholder with 52% of shares in the holding company has voted in favour of calling an extraordinary meeting of shareholders on 26 October with the key item on the agenda being the reorganisation of the company.
21.09.2007
Russian Power Industry to Be Market-based after 2011 – German Gref
The Russian power industry will be market-based after 2011, said German Gref, acting Minister of Economic Development and Trade, at the 6th International Economic Forum in Sochi. He reminded the audience that the government made a "difficult decision" to switch to equally profitable prices in the power industry.
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