The volume of investments will amount to over RUR 7, 1 billion.

The meeting with the participation of minister of industry and power of DC Konstantin Maltsev took place in branch of IDGC of the North-West, JSC “Komienergo”. The parties discussed the investment plans of the power company for the correspondence to the allocation scheme and development of production forces in Republic of Komi. By the results of the meeting the minister agreed the long-term investment program of “Komienergo” for 2010-2014. The volume of investments in the electric grid sector will amount to over RUR 7 billion 160 million. The five-year investment program is established subject to transfer of the company to the new long-term tariff policy by RAB method since the 1st of July of 2010.

In terms of the program “Komienergo” plans to direct RUR 2 billion 463 million for the reconstruction and re-equipment of functioning facilities of the electric grid sector, for  the construction and expansion of power facilities – RUR 4 billion  685 million, for the purchase of fixed assets  – about RUR 14 million. As a result of the program implementation, over 268 MVA of capacities and about 600 km of power transmission lines are planned to introduce. 

– The program provides those investment projects which the Government of the region planned to implement within the 5 tears to come. The program implementation will make it possible to provide the development of new facilities in Izhemsky, Ust’-Tsilemsky, Usinsky, Syktyvdinsky regions and also in cities Ukhta and Syktyvkar – noted Deputy Director by the capital construction of “Komienergo” Dmitry Vylegzhanin by the results of the meeting.

Besides that the agreed investment program will make it possible to provide a reliable power supply of consumers of the Republic on the whole and increase power efficiency having decreased losses of power and the operational costs decrease.

The agreed investment program is directed for the consideration in the Service by tariffs of Komi Republic.