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RAO UES to Invest $20bn in Power Engineering in 2007
RAO UES of Russia will step up power engineering investments 3.5 fold on year to $20 billion in 2007, RAO UES CEO Anatoly Chubais said at today’s news conference.
The dynamic of RAO UES investments in power engineering is of bursting type, Chubais explained. The amount was $2 billion in 2005, it soared to $6 billion past year, while this year’s target is $20 billion.
The plans are to put in operation 41 GW of generating assets till 2011. “The launch of new generating facilities of this extent is the essence of power engineering development in Russia,” Chubais specified.
RAO UES has recently passed the adjusted investment program that extends up to 2011 and amounts to 3.099 trillion rubles. Of interest is that the initial variant set forth no more than 2.1 trillion rubles. Under the new program, RAO UES will funnel 753.65 billion rubles to develop power engineering in 2008 and appropriate 820.2 billion rubles in 2009 and 825.6 billion rubles in 2010.
www.kommersant.com
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