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RAO UES Investment Session Assesses Implementation of WGCs' and TGCs' Investment Programmes

Moscow, 4 February 2008. Today, RAO "UES of Russia" held the third Investment Session to assess the progress made in implementing the WGCs' and TGCs' investment programmes. The Session was chaired by chaired by RAO UES CEO Anatoly Chubais.

Progress reports on the implementation of the companies' Investment Programmes were presented by the General Directors of all the WGCs and TGCs, the Sochinskaya CHPP, and OAO "Kurgan Generation Company".

The companies' performance was assessed using three grades, "good", "satisfactory", and "poor". WGC-2, WGC-4, WGC-5, WGC-6, TGC-1, TGC-2, TGC-4, TGC-6, TGC-9, TGC-10, TGC-11, TGC-14, Mosenergo, Volzhskaya TGC, SGC TGC-8, Kuzbassenergo, Yeniseyskaya TGC, and Sochinskaya TPP were each given "good" grades. The efforts taken by WGC-1 WGC-3, WGC-5, and Kurgan Generation Company to implement their investment programmes were assessed as satisfactory.

The Investment Session results demonstrated positive dynamics in implementation of the investment programmes by RAO UES generation companies. Compared to the previous Investment Session, higher grades were given to WGC-3, Kurganskaya Generation Company ("satisfactory"), WGC-5, and TGC-9 ("good").

WGC-1 also saw positive dynamics. Its performance received a "satisfactory" grade for the second time ("poor" during the first Investment Session). TGC-5's performance declined to "satisfactory" from "good" in the previous Session.

Some of the projects are behind the schedule, which was due to the extension of deadlines for tenders and supply of key power equipment.

Also, the Session participants were demonstrated a system for video monitoring the sites where construction of new power units is under way. Such system is operating as pilot at the CHPP-21, CHPP-26, and CHPP-27 of Mosenergo, the Stavropolskaya TPP of WGC-2, the Shaturskaya TPP of WGC-4, and the GRES-24 of WGC-6. It is planned that in the future every construction site will be connected to this video monitoring system.

* The assessment was conducted based on the following parameters: status of feasibility studies, status of the companies' business plans, availability of contracts for the supply of equipment and fuel and delivery of capacity, selection of EPC- and EPCM-contractors, and the preparedness of land plots. Also assessed was the adherence to the approved construction and installation schedules.


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