TGC-1’s unit to raise 2018 investment program by 40%

SORTAVALA, republic of Karelia, Aug 17 (PRIME) -- St. Petersburg Heating Grid, controlled by shareholders of Russian power producer Territorial Generating Company-1 (TGC-1) and the government of St. Petersburg, plans to raise its investment program by 40% to 4.1 billion rubles in 2018, a TGC-1 spokesperson told PRIME on Friday.

“The amount of investment in 2018 will reach 4.1 billion rubles, up from 2.95 billion rubles in 2017,” the spokesperson said.

The company also plans to leave its investment in the heating grids of the city of Petrozavodsk flat on the year at 170.6 million rubles in 2018, while investment in the heating grids of the city of Apatity is to grow to 23.5 million rubles this year from 20.6 million rubles last year.

(66.8932 rubles – U.S. $1)

End