UPDATE: Rosneftegaz, Inter RAO to spend 100 bln rbl on Kaliningrad power

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KALININGRAD, Jul 14 (PRIME) -- Kaliningrad Generation, a joint venture of Russia’s Rosneftegaz and power holding Inter RAO, will spend around 100 billion rubles to build four power plants in the Kaliningrad Region, which is 43% higher than the initially planned investments, Inter RAO said in a report Thursday.

Rosneftegaz will act as the main investor.

Inter RAO expects to optimize the cost of plants’ construction, CEO Boris Kovalchuk told reporters.

“We have a sum of up to 100 billion rubles agreed with the government if no force majeure happens. As of today, the volume of our signed contracts will be less than 100 billion rubles, that’s why we expect to optimize the costs,” he said.

On Thursday, the joint venture started building three gas-fired power plants in the region.

The government earlier decided to build four power plants in the Kaliningrad Region with a combined capacity of 1 gigawatt – three gas-fired plants and one coal-fired plant.

The company will build the 440-megawatt (MW) gas-fired Pregolskaya thermal power plant in Kaliningra, as well as the Mayakovskaya thermal plant in Gusev and the Talakhovskaya thermal plant in Sovetsk with a capacity of 156 MW each. The launch of these plants is scheduled for 2018.

Construction of the 195-MW coal-fired Primorskaya thermal power will start a bit later and its launched is scheduled for 2019.

(63.8531 rubles – U.S. $1)

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