Far East | Energy, utilities

RAO ES East plans $5.5bn investment, lacks half of it

13 Feb '09
RAO ES Easts $5.5bn investment program in effect between 2008 and 2013 is 50% underfunded, RIA Novosti said today, citing the companys Q4 2008 report.

RF Minister of Energy Sergei Shmatko promised as early as November 2008 that the RF would bridge the gap in 2009, the news agency reported.

Another way the firm is eyeing to cover the deficit would be consolidation through setting up a holding to manage its multiple subsidiaries, RIA Novosti added.

RAO ES East is a successor to the reformed RAO UES of Russia in Russias Far East.
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