Russia to give up 25% of electricity grid, UES
Sep 12, 2007 - Datamonitor
Russia is ready to give up 25% of
its electricity generation industry to foreign investors,
Anatoly Chubais, CEO of state-owned electricity
titan Unified Energy Systems, told the Financial
Times in an interview.
The financial daily quoted Mr Chubais
as saying: "In the competitive part of the market
there is no limit on foreign control. I believe
that a minimum of two and a maximum of five strategic
foreign companies will own Russian [power] generation
businesses, that is up to 25%."
The report mentioned that the Russian
government would retain the Russian power grid,
the electricity distribution network and its nuclear
and hydroelectric generation capacity.
Stating that approximately $8 billion
had already been raised through listings of some
companies and sale of stakes, Mr Chubais said that
he wanted to raise much more than $15 billion to
build new power stations and upgrade Russia's aging
Mr Chubais added that he was keen
to attract foreign companies, because of both their
money and their modern technology.