OREANDA-NEWS. May 15, 2008. The state shares of Inter RAO UES, together with the Russia-owned shares of Sangtudin WPP-1 and Kaliningrad TPP-2, should be given to Rosatom State Nuclear Energy Corporation by Dec 1 2008

The state shares of Inter RAO UES, together with the Russia-owned shares of Sangtudin WPP-1 and Kaliningrad TPP-2, should be given to Rosatom State Nuclear Energy Corporation by Dec 1 2008, says the resolution of the Government of the Russian Federation on the measures for forming Rosatom State Nuclear Energy Corporation.

This document was signed by the former Prime Minister of Russia Viktor Zubkov on May 6.

The resolution also says that by Nov 15 2008 the shares of nuclear federal state unitary enterprises reorganized into open joint stock companies should be transferred into the authorized capital of Atomenergoprom OJSC.

Besides, by Feb 1 2008 Rosatom should submit proposals for harmonizing the legislation of the Russian Federation with the presidential decrees on the reorganization of the country’s nuclear sector.

The Government stipulates that during the transition period Rosatom will own nine federal state unitary enterprises (regional specialized universities, academies and colleges) on behalf of the Russian Federation.

Inter RAO specializes in export and import of electricity, owns a number of Russian power plants and has stakes in foreign power companies, particularly, in the territory of the former Soviet republics.

Presently, Inter RAO is consolidating its assets, particularly, Sangtudin Water Power Plant-1 in Tajikistan and Kaliningrad Thermal Power Plant-2 in Kaliningrad region.

Before the consolidation, the shareholders of Inter RAO were RAO UES Russia and Rosenergoatom Concern (60% and 40% stakes, respectively). After the consolidation Rosatom will own some 50% of the company’s shares. The blocking shares will be given to Vnesheconombank.