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FGC investments in energy facilities in the Far East will amount to 75 billion rubles over 5 years

Federal Grid Company plans in the period 2014-2019. invest about 75 billion rubles in the development of the Far East. Andrey Murov, Chairman of the Management Board of FGC UES, spoke about the prospects for the construction of new power facilities of the Unified National Electric Grid during the session "Master Plan for Economic Development of the Far East" at the International Economic Forum "Sochi-2014".

The discussion was attended by the Minister of the Russian Federation for the Development of the Far East Alexander Galushka, Deputy Minister of Energy of the Russian Federation Alexei Teksler, General Director of Sollers Vladimir Shvetsov, as well as representatives of banking and investment systems.

The most significant projects of FGC UES in the Far East will be the power supply of the Elginsky coal deposit, the ESPO oil pipeline, the facilities of the Eastern Petrochemical Company, the Vostochny cosmodrome, the Kozmino port and joining the Unified national network of isolated regions of Yakutia.

According to Andrei Murov, the modernization of the Baikal-Amur Mainline and Transsib will be a large-scale and key project for the Far East and Eastern Siberia. For these purposes, FNC UES invests 141 billion rubles, of which 56 billion is planned to be raised from the National Wealth Fund. Thanks to the project, RZD will be able to export an additional 2020 million tons of cargo from the fields of the Eastern landfill currently under development by 55.

“In order to maintain the planned pace of development of the Far East, it is necessary to combine three main sources of financing: own funds, mechanisms of public-private partnership and targeted, targeted budget financing. This year FGC UES began working out a mechanism for co-financing technological connection of consumers through the creation of joint special design companies, the so-called SPVs, ”said the Chairman of the FGC Board.

In conclusion, the head of FGC UES stressed that an important condition for the development of the region is the revision of approaches to the financing of new investments. In this context, the guarantor of the consumer’s fulfillment of obligations may be the state, the subject of the Far East. The state can also invest from federal targeted programs to finance strategic and backbone projects. Such investments will increase the profitability of projects that are de facto of social importance.

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