Russia sees investment in 2019–2024 power grid devt at 1.3 tln rbl

MOSCOW, Oct 4 (PRIME) -- The government expects 2019–2024 investment in Russia’s power grid infrastructure to reach 1.3 trillion rubles, Deputy Prime Minister Dmitry Kozak said on Thursday during the Russian Energy Week forum.

Infrastructural limitations are one of the key factors that restrict improvement of the Russian economy, and some experts say that this factor accounts for 50% of all limitations in the economy, he said.

“Our country spends a huge amount of resources on development of infrastructure…Speaking of financing volumes, we spend 261.9 billion rubles on development of power grid infrastructure in 2017, and we forecast spending of 1.3 trillion rubles in 2019–2024. We plan to construct dozens of thousands (of kilometers) of power transmission lines and dozens of thousands of megawatts of transformer capacities,” Kozak said.

“Transneft plans to spend 1.1 trillion rubles on oil pipelines in 2018–2022, Gazprom eyes 5.7 trillion rubles (spent on pipelines), Russian Railways plans spending of 3.8 trillion rubles, and we’ve earmarked spending of 2.3 trillion rubles from the budget on construction of highways until 2024.”

(65.4244 rubles – U.S. $1)

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