OGK-4 Shareholders to Consider General Contract Agreement for PSU-800
OREANDA-NEWS. The Board of Directors of Fourth Generation Company of the Wholesale Electricity Market (Open Joint-Stock Company) (OGK-4) has decided to convene an Extraordinary General Meeting of Shareholders of the Company. The EGM will have absentee voting, the completed ballots to be accepted until October 24, 2007. The list of persons entitled to participate in the OGK-4 EGM is closed on September 21, 2007.
The EGM agenda includes the approval of the General Contract Agreement for construction and installation with the delivery of primary and auxiliary equipment and materials for PSU-800-based (coal-fired) Unit 3 of Berezovskaya GRES, an OGK-4 branch. The proposed agreement is between the Company and KATEKenergoremont and is a material transaction.
KATEKenergoremont was selected the preferred bidder and awarded the General Contract Agreement for construction completion related to Unit 3 of Berezovskaya GRES. The public bidding was announced by OGK-4 in June 2007 and held in the B2B-Energo Information-Analytical Trading System. Over 30 candidates applied for the bidding, including Power Machines, E4 Group, EMAlliance and other companies.
KATEKenergoremont (Sharypovskiy District, Krasnoyarsk Territory) was established in 2004 on the base of repair divisions of BGRES-1 under the program aiming to dispose of repair and non-core assets of electricity companies. After reorganization of BGRES-1, which owned 99.99% of KATEKenergoremont’s charter capital, this shareholding was transferred to OGK-4. In December 2006, OGK-4 ceased to be the company’s shareholder in pursuance of RAO UES of Russia’s strategy reducing the affiliation between repair and maintenance entities and subsidiaries and dependent companies.
The core activity of KATEKenergoremont is the installation, setup, repair and operation of heat and electricity equipment, fuel supply and water treatment equipment, and facilities subject to boiler inspection. KATEKenergoremont employees have vast experience in the repair of all types of sophisticated power equipment at Berezovskaya GRES. KATEKenergoremont completed preparatory work at the power unit construction site.
The construction of 800-MW Unit 3 of Berezovskaya GRES was suspended in the mid-1990s. As of today around 50% of construction is complete. The project for the construction completion related to 800-MW Unit 3 of Berezovskaya GRES is included in the OGK-4 Investment Program. It is planned to put Unit 3 into operation the 4th quarter of 2009. The project value is estimated at 14 billion rubles (including VAT) in forecast prices.
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