Results of the Board of Directors on April 2, 2013
April 05 2013 - 4:09AM
OTC Markets
Results of the Board of Directors on April 2,
2013
JSC RusHydro (ticker symbols: RTS, MICEX, LSE: HYDR;
OTCQX: RSHYY) announces that the Board of Directors approved
participation of the Company in four companies created to implement
the construction of new generating facilities in the Far East: heat
and power plant in Sovetskaya Gavan’, the Sakhalinskaya power plant
No.2, the Yakutskaya power plant No.2 and the Blagoveschenskaya power
plant No.2.
These four companies, wholly-owned by RusHydro, will
be registered in Khabarovskiy region (Sovetskaya Gavan’ city), the
Republic of Sakha Yakutia (Yakutsk), Amurskaya area
(Blagoveschensk) and Sakhalinskaya area. The companies will
exercise managerial and control functions and will be responsible
for commissioning of new facilities.
The initial share capital of each company will amount
to RUR 500,000 and will be increased through additional share
issues in favor of RusHydro. The additional share issues will be
paid by the federal funds allocated by the government to RusHydro
for development of power generation in the Far East. The total
value of share capital of each company will be determined after the
construction documents are prepared and the cost of construction of
each plant is assessed. The funds will be contributed to the share
capital of the companies in accordance with the construction
schedules of the facilities.
RusHydro implements the construction of power projects
in the Far East: heat and power plant in Sovetskaya Gavan’, the
Sakhalinskaya power plant No.2 (the 1st stage), the
Yakutskaya power plant No.2 (the 1st stage) and the
Blagoveschenskaya power plant No.2 (the 2nd stage), in
order to strengthen the strategically important electric power
industry in the region. New power facilities are aimed to add new
generating capacity, meet the increasing demand for electric and
thermal power, create an additional capacity margin and improve
reliability of power supply. The first start-up facilities of new
electric plants in the Far East with total electric capacity of 0.5
GW and thermal capacity of 563 Gcal/h are planned to be
commissioned by 2016.
For more information:
JSC RusHydro, Investor Relations
Department
Tel. +7 (495) 225-3232 ext. 1319, 1394,
1607
ir@rushydro.ru
DISCLAIMER
The information in this press release may contain
projections or other forward-looking statements regarding future
events or the future financial performance of RusHydro. One can
identify forward-looking statements by terms such as "expect,"
"believe," "anticipate," "estimate," "intend," "will," "could,"
"may" or "might," the negative of such terms or other similar
expressions. We wish to caution you that these statements are only
predictions and that actual events or results may differ materially
from these statements.
We do not intend to update these statements to reflect
events and circumstances occurring after the date hereof or to
reflect the occurrence of unanticipated events. Many factors could
cause the actual results to differ materially from those contained
in our projections or forward-looking statements, including, among
others, general economic conditions, our competitive environment,
risks associated with operating in Russia and rapid technological
and market changes in our industries, as well as many other risks
specifically related to RusHydro and its
operations.
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