T Plus, VEB.RF mull 100 bln rbl program for heat networks

MOSCOW, Sep 2 (PRIME) -- Russian power utility T Plus and Gorod, a subsidiary of state development bank VEB.RF, will support a 100 billion ruble improvement of heating distribution networks in 29 cities, T Plus said in a statement on Monday.

T Plus and JSC Gorod agreed on the main conditions of cooperation in the plan for integrated development of heat distribution networks in 29 cities. Kirov will become a pilot city for the program with an expected amount of raised investment standing at 3 billion rubles.

“According to the document, combined investment in heat distribution networks may reach 100 billion rubles,” the company said, adding that T Plus and Gorod are now to analyze condition of the networks in the cities, to define major directions for investment, and to choose modern technical and engineering solutions.

“We are working on different options of attracting investment in the heat distribution infrastructure of our cities. The agreement that we signed is one of the new and efficient instruments. It should result in an increase of pipe re-laying, in improvement of reliability of heat distribution, and in improvement of the standard of living of citizens,” T Plus CEO Andrei Vagner said as quoted by the company.

(66.4897 rubles – U.S. $1)

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