National electricity grid company IES-Holding intends to invest $260m in reconstruction of thermal power station TPS-9 in Perm, Kommersant reports.

Under plans, the funds are to be used to build two steam gas power units with power capacity of 80 MW at the power station.

IES-Holding is reportedly to select the contractor to carry out reconstruction in early September.

TPS-9 is one of the largest power stations in Perm, and supplies heat to 150,000 residents in the city’s Industrialny, Leninsky and Dzerzhinsky districts, as well as oil refinery LUKOIL-Permnefteproduct. TPS-9 with power capacity of 477 MW was put into commission in 1980.