Russian Financial Control Monitor

MOSCOW. The Moscow government plans to consolidate power grid assets and to sell them to Russian Grids, Acting Deputy Mayor for Property and Land Relations Natalya Sergunina said in an interview with the Kommersant business daily. The asset will be sold either for cash or for a stake in the merged company which is planned to be established between Moscow’s United Energy Company and Energocomplex and Russian Grid’s Moscow United Electric Grid Company. According to Sergunina, Moscow will buy Energocomplex, a company building and operating high voltage substations in Moscow, from VTB Bank to merge it with United Energy Company. At the second stage, the resulting entity may be merged with United Electric Grid Company. Russian Grids, the largest electricity transmission and distribution grid company in Russia, was known as IDGC Holding before its merger with Federal Grid Co.

ASTRAKHAN. The facility which oilfield services giant Schlumberger is building in south Russia’s Astrakhan Region will be commissioned in 2014, the managers of Serbia’s general building contractor Energoprojekt Holding told the regional Industry Minister Sergei Krzhanovsky. The base will service and repair equipment for companies in southern Russia and the Caspian countries. Schlumberger started the project three years ago and has already invested $40mn in it.

2023-10-08 11:42:18