IES terminating negotiations with Rusal on sale of Bogoslovsk CHPP
MOSCOW. May 16. (Interfax) - IES Holding is terminating its negotiations with Russian aluminum company UC Rusal on the sale of the Bogoslovsk Combined Heat and Power Plant (CHPP) and the power supply contract for the Novobogoslovsk CHPP project because the parties were unable to agree on prices.
"IES Holding believes that a further delay in the negotiations will lead to a disruption in preparing the Bogoslovsk CHPP for the fall and winter season and be accompanied by violations in the timeframes for executing the obligations under the power supply contract," IES Holding's First Deputy General Director Yakov Tesis is quoted as saying in the company's press release.
An official notification of IES' position has been sent to all interested parties. Participants in the working group were also informed of the decision at a meeting in Krasnoturyinsk led by Vladislav Pinaev, acting Industrial and Science Minister in the Sverdlovsk region, the press release said.