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Federal Grid Company FEES Approval of FedGrid's 2013-2017 Investment Program



  Federal Grid Company (FEES) - Approval of FedGrid's 2013-2017 Investment
  Program

RNS Number : 5376R
JSC Fed Grid Co of Unified Engy Sys
20 November 2012
 
November 20^th, 2012

The Russian Ministry of Energy Approves Federal Grid's 2013-2017 Investment
Program

Federal Grid announces that the Russian Ministry of Energy has approved the
Company's 2013-2017 investment program (Order #531, dated October 31^st, 2012)
in the total sum of RUR 775.5 billion (including VAT).

The program provides for putting 66,870 MVA of transformer capacity and 16,985
km of transmission lines into operation. It is focused on resolving the
following priority tasks:

•           UNEG development to provide for reliable operations;

•           Renovation of the Company's grid assets;

•           Implementation of electric grid projects that are of State
importance (the 2014 Sochi Olympic Games - 2014, the ESPO pipeline, the
Skolkovo Innovation Center and upgrading power supply reliability for Moscow
and St. Petersburg, etc);

•           Implementation of agreements concluded with regional
administrations to supply electric energy to consumers;

•           Launch of units' power output;

•           Implementation of innovative projects and energy efficiency
programs;

•           Creation of technological infrastructure to ensure functioning of
the competitive electric energy and power market.

The investment program will be financed out of Federal Grid's own funds, loans
and borrowings, as well as from the federal budget.

The program provides for an even distribution of investment expenses across a
5-year period; it will allow the Company to maintain a balanced structure of
financing sources.

In the near-term, the program will be considered by Federal Grid's Board of
Directors.

Enquiries:

Contacts

 
Analysts / Investors
Federal Grid IR team   Work                        Mobile
Alexander Duzhinov     +7 (495) 710 9064           +7 (916) 041 8053
Nadezda Sukhova        +7 (495) 710 9541
Egor Toropov           +7 (495) 710 9333 ext. 2275
Vladimir Baklanov      +7 (495) 710 9333 ext. 2926
International Media
M:Communications       Work                        Mobile
Tom Blackwell          +7 (495) 363 2841           +7 (919) 102 9064
Sam VanDerlip          +7 (495) 363 2845           +7 (916) 306 6112

 

About Federal Grid Company

Federal Grid Company is the operator and manager of Russia's unified
electricity transmission grid system, including high voltage transmission
lines, and holds the status of a natural monopoly. 

The Company's assets include more than 124,000 km of transmission lines and
854 substations with more than 322 GVA of 35-750 volt transformer capacity.
Based on the length of transmission lines and installed transformer capacity,
Federal Grid is the largest publicly traded electricity transmission company
in the world.

Federal Grid's business is to provide electricity transmission and
technological connection services. It maintains and develops the grid system
and supervises grid facilities and infrastructure in 73 Russian regions,
covering a territory of 13.6 million square kilometres. Its customers are
regional distribution companies, electricity suppliers and large industrial
enterprises.

Since January 1^st 2010, Federal Grid has operated under a 5-year regulatory
asset base (RAB) model.

The Company was incorporated in June 2002 as part of the reorganization of
Russia's electrical power industry. The largest shareholder, with a 79.55%
stake, is the Russian Federation Government.

Federal Grid Company's ordinary shares are listed on the MICEX-RTS stock
exchange under the ticker symbol FEES and the Company's GDRs are traded on the
London Stock Exchange under the same FEES ticker symbol. The Company's shares
are included in the MSCI Emerging Markets and MSCI Russia indices. 

In 2011 the Company's IFRS revenue was RUB 139,571 million (up 23% compared to
2010), adjusted EBITDA was RUB 83,760 million (a 24% increase from 2010), and
adjusted net profit was RUB 38,241 million (up 37% on 2010).

Further information can be found at www.federal-grid.com

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
MSCBMBPTMBBTMMT -0- Nov/20/2012 08:14 GMT
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