FGC UES and INTER RAO UES Plan to Create Joint Venture

FGC UES and INTER RAO UES Plan to Create Joint VentureThe agreement on of intent between OAO FGC UES and OAO INTER RAO UES reflects the intention of both parties to jointly initiate, promote, execute the preparation and fulfill new infrastructure projects between the Russian Federation and foreign states, between the foreign states as well as on the territory of the foreign states.

The agreement was signed in St. Petersburg within the framework of the Federal grid company’s participation in the St.Petersburg
International Economic Forum. In order to achieve the set objectives the parties are planning to create a join venture, which would also provide and extend their presence at the foreign electrical energy sector and at the foreign electrical energy markets, would contribute to raising the stability
of power supply for the consumers in the Russian Federation and in the foreign partner states, would allow to execute the transfer of electrical energy technologies into the Russian Federation and to start manufacturing the new power equipment in the Russian Federation.

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