Far East | Energy, utilities

RAO ES of East rolls back investment plans

10 Apr '09
Energy company RAO ES of East today conceded it was cutting its investment program and postponing several projects until 2010-2011.

The piggy bank for the firm's investment program now stands at $3.2bn.

Projects to be hit include a $685.9m move to build the planned Ussuriyskaya thermal power plant.

Of the project, spokesman Dmitry Silyutin said his firm had planned to spend up to 238.6m on construction in 2009, but this was now put off until at least 2010.

$56.8m plans to build power grid facilities on Russky Island and in Vladivostok were also shelved for the time being, Mr Silyutin added.
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Tags: financial crisis (43) / power grid facilities (0) / Ussuriyskaya thermal power (0) / RAO ES of East (0) / Dmitry Silyutin (0) /

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