Financing of construction of Yakutskaia GRES-2 out of federal funds has commenced

The funds were transferred to the primary building contractor and vendors of ancillary equipment.

Thus, an advance payment was made to the primary building contractor TEK Mosenergo JSC in the amount of 651.8 mln rubles. Besides, advance payments were made to Silovye Machiny JSC against delivery of waste heat exchangers, and to Premium-Engineering LLC for supply of gas booster stations in the amount of 118.3 mln rubles and 209.9 mln rubles respectively. All prices are inclusive of VAT.

All payments undergo multi-level inspection and verification by the Savings Bank of Russia JSC. It will be impossible to make any further settlements with the abovementioned contractors before they provide a respective advance payment expenditure report.

Although the use of budgetary funds was authorized only this year, RusHydro has been performing intensive works on four power facilities of the Far East throughout the year 2013 at its own expense, including funds of RAO UES of the East. Over 4.3 bln rubles out of own funds of RusHydro Group was used as financing of the master EPC contract and equipment for construction projects of the Far East. Some equipment is already being manufactured.

May we remind that the first stage of Yakutskaia GRES-2 is one of the four projects of the investment program of RusHydro JSC for construction of new power facilities in the Far East that is being implemented together with RAO Energy Systems of the East by virtue of a Presidential Decree. For that purpose, the sum of 50 bln rubles was allocated out of the national budget. The installed electrical output of the new Yakut GRES will reach 193 MW, and the thermal output will amount to 469 Gcal/h.