RusHydro approves list of non-profile assets worth 19 bln rubles, considering sale
MOSCOW. June 21 (Interfax) - The value of non-profile assets at RusHydro totals about 19 billion rubles, company head Nikolai Shulginov said during a meeting with President Vladimir Putin.
"We have plans for the board of directors to approve the new list of non-profile assets, which must be divested. There are a lot of them, the volume is about 19 billion rubles, so this is also a potential reserve," he said. The non-profile assets include railroads, bridges and apartments. "Not everything suits" and the issue of selling the non-profile assets "must be tackled," he said.
In the context of the investment program optimization, RusHydro revised the technical re-equipment program, slashing it by 50 billion rubles running to 2020. "Once more, without damaging reliability, because there are reserves that could be found, if this is engaged in purposefully, deeply and professionally," he said.
It was reported earlier that the company said in a presentation of its IFRS results for 2015 that a 4.9% stake in Inter RAO , a 42.75% stake in Irkutsk Electric Grid Company and other assets could be sold in a divestment of non-profile assets.
RusHydro Group is a power holding that manages hydropower plants in Russia. Installed capacity of the group's plants is 38.5 gigawatts of capacity, including the power capacities of RAO Energy System of East and the Boguchanskaya HPP. The state is the majority shareholder.
