OREANDA-NEWS. April 09, 2010. According to the recent press-service release, Turboatom <TATM UK N/R> intends to supply equipment for the Aksu thermo electric power station's power unit No. 6 in Kazakhstan by July 2011. This will be the fourth turbine to be revamped by Turboatom at the Aksu thermo electric power station. Turboatom and the Euroasian Energy Corporation signed the relevant contract in March 2010.

Millennium Capital: the news is undoubtedly positive for the Company. Turboatom intends to arrange a contract to deliver two more turbines to the power station in the future. But it is important to point out an acute conflict between the minority shareholder AMC Svarog Asset Management (owning a 12% stake in the share capital of the Company) and the State Property Fund of Ukraine (it owns a 75.2% stake in the TATM share capital), which is obviously detrimental for the Company, since it decreases its investment attractiveness.