RIA Novosti cited Mr Vasily Zubakin chairman of Hydropower Company RusHydro as saying that the company will raise loans worth RUB 7 billion in 2010 to restore a Siberian hydropower plant severely damaged during a recent accident.
The August 17 disaster at the Sayano-Shushenskaya plant on Siberia Yenisei River killed 75 people and destroyed a turbine hall.
Mr Vasily Zubakin said "Additional borrowings as a whole to fulfill RusHydro's investment program in 2010, including the repair of the Sayano-Shushenskaya hydropower plant, will amount to 7 billion rubles.”
He said the company was holding negotiations with Russian banks and the European Bank for Reconstruction and Development on raising this sum "on the most acceptable terms at the minimum interest and maximum maturity."
Mr Alexei Kudrin Finance Minister of Russia earlier said that measures to repair the Sayano-Shushenskaya hydropower plant in 2010 would be financed from extra-budgetary funds. Meanwhile, Energy Minister Mr Sergei Shmatko said that expenses for the repair of the Sayano-Shushenskaya hydropower plant in 2009 to 2010 were approved at RUB 21.6 billion adding that a new share issue and loans were considered as potential sources of financing.
According to the probe damage from the disaster has been estimated at over RUB 7.338 billion. The sum includes the loss from the wreckage of major power generating assets and environmental damage, preliminarily put at some RUB 7 billion and about RUB 63 million respectively.
(Sourced from RIA Novosti)
