RusHydro looks for Rosneftegaz input into capital
MOSCOW. March 3 (Interfax) - OJSC RusHydro , which operates the majority of Russia's hydroelectric power plants, is counting on Rosneftegaz investing in the company's capital and the deal being structured this year, chairman of the RusHydro management board Yevgeny Dod told the press.
"We are counting on Rosneftegaz's participation in our capital and the financing of projects in the Far East," Dod said, referring to six new stations in that part of Russia, as well as other necessary projects.
"We're hoping to structure the deal this year," he said.
"We are counting on and see as a strategic partner for RusHydro - Rosneftegaz. For those projects we are now carrying out it is just this partner for us [that] will be the base for the entire complex of financial-business activities," Dod said, adding that this primarily means the financing of projects in the Far East.
The company has an additional need for Far East project financing. There is a problem with heating grids in the region. Also, there must be built six new stations in the Far East that will replace aging facilities. Also, OJSC Far East Distribution Grid Company (DRSK) needs additional financing.
The company will finance the projects indicated by the country's leadership, including the president, Dod said.
Also at issue are projects being built using 50 billion rubles from the budget, he said.
In the summer of 2012, RusHydro announced its position on Rosneftegaz being involved as a base investor, but the decision has to be made at the "maximally high level," he said.