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Press-release

TGC-10 Launches the Key Investment Project in the Tyumen Energy System

Nyagan. 11 June 2008. Today, a ceremony was held to kick off the construction of the Nyaganskaya TPP, one of the key investment projects of OAO "TGC-10" in the Urals Federal Okrug. The ceremony was attended by Governor of the Khanty-Mansiysk Autonomous Okrug – Yugra Alexandr Filippenko, Chairman of the RAO UES Management Board Anatoly Chubais, Fortum' President Mikael Lilius, and Director General of TGC-10 Andrey Shishkin.

The construction of the Nyaganskaya TPP is one of the top priority projects of the Investment Program of TGC-10 and is included in the RAO UES "GOELRO-2 Program".

Currently, Russia's largest fuel and energy companies are operating in the Khanty-Mansi and Yamala-Nenets Autonomous Okrugs, Among them are Gazprom, LUKoil, ITERA, Rosneft, RITEK, Sibneft, TNK-BP, and SIBUR. According to the development forecasts, the companies expect a significant growth in this region. Currently, 207,700,000 tonnes of oil are produced in the Khanty-Mansiysk Autonomous Okrug. According to the forecasts, before 2020, oil extraction in Yugra will increase to 270-280 million tonnes annually. By 2020, gas extraction in the Yamal-Nenets Autonomous Okrugs will increase to 730 billion cub.m from the current 569.5 billion cub. m. Electricity consumption in the region is also expected to grow.

Analysis of electricity demand in the Uray-Nyagan energy node over the past five years prepared by the UES System Operator shows that, by 2010, electricity consumption will increase by more than 50 percent.

The Nyaganskaya TPP will improve the reliability of the Uray-Nyagan energy node, prevent energy shortages and ensure rapid development of the Tyumen region's industry, primarily, the raw materials producers, and create the basis for economic development in the Subpolar and Polar Urals area which is rich in minerals.The project provides for the construction of three power units with the aggregate capacity of 1,200 MW in 2009-2012. Each unit will have a capacity of 400 MW of electricity and 190 Gcal/h of heat. TGC-10 plans to bring on line the first and second power units in 2011, and the third in 2012.

The Company will spend RUB52.2 billion in funds on the construction of the power units at the plant. The project will be financed with the funds raised through additional share issue of TGC-10 and borrowings (bond issues and bank credit facilities).

In 2011, after the two new power units are brought on line, the Nyaganskaya TPP will generate 5.4 billion kWh of electricity annually, and after the launch of the third unit, 8.6 billion kWh.


* In 2008, Fortum Energy Concern acquired a controlling stake in TGC-10 in March 2008. Fortum offered the highest price per TGC-10 share, RUB111.8. The company's proceeds from the share offering amounted to RUB46.6 billion. These funds have already been earmarked for the implementation of the TGC-10's investment program.

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Contact Information:

Stas Degtyarev
Press Office Expert
+7 (495) 710-6239

Shareholder Relations
+7 (495) 620-1609


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