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For its projects, "RusHydro" does not claim funds from the NWF

The head of the RusHydro company, Evgeny Dod, told reporters yesterday that the company is not going to request funds from the National Welfare Fund (NWF) to finance its projects.

"Now, in principle, everything is fine with us, so now asking for money from the NWF, from Rosneftegaz is somehow even incorrect. We are not running for additional funding, our task now is to optimize costs, optimize the investment program. We are now more focused on own strength, "said Dod.

Earlier, RusHydro planned to request funds from the NWF to finance the construction of flood-control hydropower plants on the Amur.

In the spring, Russian President Vladimir Putin signed a decree to increase the authorized capital of RusHydro by up to 40 billion rubles with the placement of an additional issue of shares in favor of Rosneftegaz. It was reported that Rosneftegaz may buy out a quasi-treasury package in the amount of 2,2% of RusHydro's shares.

Dod explained that he does not see now an opportunity to complete the deal on the sale of a quasi-treasury block of shares to Rosneftegaz. "We see the necessity (of the deal), there is no possibility," the head of the company said. Earlier it was expected that the deal would be completed in October-November this year.

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