It is reported that United Company RusAl had no outstanding debts on its Boguchanskaya hydropower joint venture with RusHydro and that it would remain a 50% owner.

As per report “The form of managing the project is fully in the interests of RusAl as RusHydro guarantees that the timelines of the launch and the budget for the construction which took into account optimizations suggested by RusAl will be sustained. All the extra funding exceeding the agreed budget will be provided by RusHydro but the partners’ stakes will remain unchanged.”

RusHydro said Wednesday that RusAl had paid “all but a small portion of its debt from 2008. Ms Yelena Vishnyakova RusHydro spokesperson said that “RusAl and RusHydro are in talks about the management structure and funding scheme. She said that a decision will be made at a RusHydro board meeting December 10th.”

(Sourced from The Moscow Times)