OREANDA-NEWS. On May 19, 2008 meeting of establishment of a Lithuanian-Polish joint venture LitPol Link, the Board of Observers has been elected and its CEO has been appointed. For a CEO of a company of implementation of a power interconnection project has been appointed Vidmantas Jankauskas, a former Chairman of State Control Commission for Price and Energy. His deputy will be Albert Kuzmicz, a representative of Poland, reported the press-centre of Lietuvos Energija.

For the Board of observers have been elected Vladas Paskevicius, Power System Director of Lietuvos Energija AB, Rimantas Sukys, Finance Director of Lietuvos Energija AB, Andrius Simkus, lawyer of Lietuvos Energija AB, Malgorzata Klawe, representative of Polish company PSE Operator, Arkadiusz Krasnodebski, lawyer of Polish company PSE Operator and prof. Wladyslaw Mielczarski, coordinator of EU TEN projects, who has also been elected chairman of the Board of Observers.

The new joint-venture shall prepare a technical project, revise and approve routes of the new power lines, conduct an environmental impact assessment, address issues of land acquisition, permits, licensing, perform other preparatory works.

Lietuvos Energija and PSE Operator will each own 50 per cent of the joint venture shares. The authorized capital of the joint-venture will account for 2 million zlotys. It is expected that the new enterprise will be registered in June.