24 Feb 2010 12:17

Putin slams OGK-3, TGK-4 for investment-program idleness

SAYANO-SHUSHENSKAYA GRES (KHAKASIA). Feb 24 (Interfax) - Russian Prime Minister Vladimir Putin has leveled sharp criticism at power companies OGK-3 and TGK-4 for not fulfilling their energy investment programs.

"Let's see, TGK-4 doesn't even have work plans, the main shareholder there - Mr. [Mikhail] Prokhorov, who is doing pretty well economically, as they say in investment circles, has gotten cash, has money, he is admitted to various cabinets, he came to see me recently, we have a very good relationship - is looking for different ways to use the funds," Putin said at the end of a meeting addressing investment programs in the electrical power sector.

Putin emphasized the necessity of meeting responsibilities again.

"Another company is OGK-3, the main shareholder this is Mr. [Vladimir] Potanin. He acquired that company for 81.7 billion rubles, and with a supplementary issue received 81.7 billion rubles for nothing, in fact, and amassed huge property," he said.

"Well, then, he got it for nothing. But the obligation is to fulfill investment programs, and nothing is being done," Putin said. The company E.ON, he noted, received 48 billion rubles with a supplementary share issue, and the company's investment program has a 95 billion-ruble price tag.

"I'd like to say it again, let's not argue. Everything planned has to be done, and we on our side are ready to lend a shoulder, to help, but this is needs to be a two-way street," the prime minister said.