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Timchenko May Lose Part of Power Plant Contract, Kommersant Says

Billionaire Gennady Timchenko’s construction company OAO Stroytransgaz may lose part of a 28 billion-ruble ($886 million) contract to build a power station in St. Petersburg, Kommersant reported.

The city government may cancel plans for Stroytransgaz to build a second unit of the South-West power plant because of delays in constructing the first unit, the Moscow-based daily reported without saying where it got the information.