17 Dec 2009 14:03

Fortum decides against handing Argayash CHP to new investor, Chelyabinsk official says

CHELYABINSK. Dec 17 (Interfax) - OJSC Fortum, formerly the OJSC TGK-10 territorial generating company which is controlled by the Finnish energy company Fortum, has decided not to proceed with the transfer one of the company's Chelyabinsk assets - the combined heat and power plant Argayash CHP - to a new investor, First Deputy Governor of the Chelyabinsk region Vladimir Dyatlov told Interfax.

"Company representatives assured me that they had decided not to seek a new investor for Argayash CHP or Chelyabinsk GRES," Dyatlov said.

Fortum intends not only to hold onto these assets, but to upgrade and modernize them, he said.

It had been reported Fortum was looking at options for selling Argayash CHP to a new investor, and had indicated IES-Holding as a potential buyer. Fortum has not commented on any plans to sell its Chelyabinsk asset; IES has denied them.

OJSC Fortum operates Tyumen CHP-1 and CHP-2, Tobol CHP, Chelyabinsk CHP-1, CHP-2 and CHP-3, Chelyabinsk GRES and Argayash CHP. Established generating capacity of the plants is 2.7 gWt.