DTEK invests 0.7 bln hryvna in coal assets in H1
KYIV. Aug 19 (Interfax) - Ukraine's biggest private vertically integrated energy holding DTEK invested around 700 million hryvna in its coal mining and enriching enterprises in the first half of this year, a company press release reports.
Of that, 558 million hryvna was put into the development of DTEK Pavlogradugol and 101 million into DTEK Shakhta Komsomolets Donbassa.
"At the association Dobropolyeugol association's mines, DTEK began carrying out a large-scale investment program, in the framework of which about 400 million hryvna have been planned for investment in the refurbishment of production capacity in 2011 alone, the release says.
The holding also says that the modernization of energy equipment at PAO Dniproenergo continued in the first half of this year. In particular, work continues on the technical re-outfitting of generating units #3 at Kryvyi Rih TES (thermal power plant) and #9 at Pridneprovsk TES, and similar work has begun on #1 at Zaporizhzhya TES.
"Investment in the reconstruction of equipment at Dniproenergo will be 1.35 billion hryvna (419.8 million hryvna, 355.7 million hryvna, and 574.5 million hryvna in Kryvyi Rih TES, Pridneprovsk TES, and Zaporizhzhya TES, respectively)," the release says.
In addition, DTEK has also announced modernizations at Vostokenergo LLC generating facilities.
"Work is being done to modernize power block #10 at Vostokenergo's Lugansk TES and #8 at Kurakhovsk TES, the installation at them of a full complex of systems for automated control of technical processes, as well as the reconstruction of the electric filter of power block #8 at Kurakhovsk TES," the release says.
The expected cost of the modernization of unit #8 at Kurakhovsk TES is 536 million hryvna, that of #10 at Lugansk TES - 480 million hryvna.
DTEK says that under preparations for Euro-2012 the holding's power-supply company Servis-Invest LLC continues to invest in the building of the new Aeroport substation (101.7 million hryvna) for providing electricity to a new airport terminal complex.
DTEK PES-Energougol continues the reconstruction and capital construction of 0.4 kWt power transmission lines (the cost of the work planned in 2011 - 8 million hryvna," the release says.
DTEK was set up in 2005 to manage the energy assets of Rinat Akhmetov's group System Capital Management (Donetsk). The holding's enterprises make up a vertically integrated chain for the mining and enrichment of coal, and the production and sale of electricity.
The group's corporate structure consists of three divisions: a holding company (DTEK Holdings B.V. of Amsterdam), a corporate center (DTEK LLC, with subdivisions in Kyiv and Donetsk), and production enterprises located in four regions of Ukraine.