Energy Ministry not backing increase to combined FGC, Russian Grids investment program
MOSCOW. June 11 (Interfax) - The Russian Energy Ministry does not support the idea of increasing the combined investment program of OJSC Federal Grid Company UES (FGC) and OJSC Russian Grids, Deputy Energy Minister Mikhail Kurbatov told the press on Tuesday.
"It would be good if everything was built, and the program was one and a half times bigger, two times bigger, but there are economic realities," Kurbatov said.
The confirmed investment program is optimal for company development, he said. "It is optimal the way it is now, 155 billion - with this money one can work and renovate, and improve the state of the grids, and build new facilities," he said.
Not long ago, FGC chief Oleg Budargin suggested that the company's investment program be increased to two hundred billion rubles a year and that of Russian Grids to two hundred and fifty billion rubles a year.