OREANDA-NEWS. April 09, 2012. According to data at the disposal of the Investment Department of IDGC of the North-West, JSC, in 2017 the company plans to reduce fixed assets wear and tear down to 59.2%.

As of December 31, 2011 the value of IDGC of the North-West, JSC fixed assets made 33,354.2 bln RUR, having increased by 7.8% as compared to the previous period (as of December 31, 2010 the company’s fixed assets were evaluated at 30,933.3 mln RUR).

2011 accounting (financial) statements of the company prepared in accordance with RAS were presented at an in presentia session of the Audit Committee under the Board of Directors of IDGC of the North-West by Chief Accountant   Head of the Department for Financial and Fiscal Accounting and Reporting Tatyana Maksimova. The issue consideration took place in Moscow on March 30, 2012.

 “The 7.8% growth in the fixed assets book value is conditioned by a vast volume of completely constructed facilities commissioning as well as by commencement of large-scale investment projects implementation within the framework of the company’s Investment Program execution,” Tatyana Maksimova explained.

“In 2011, IDGC of the North-West commissioned 4.8 bln RUR of fixed assets including 3.5 bln RUR – by way of technological re-equipment and reconstruction. Notably, depreciation volume made 2.7 bln RUR,” remarked Head of the company’s Capital Construction Department Lidiya Nikandrova. Overrunning investment in technical re-equipment and reconstruction enabled reduction of fixed assets wear and tear from 62.3 to 62.1%.

The company plans to pursue the same policy during the years to come. According to data at the disposal of the Investment Department of IDGC of the North-West, JSC, in 2017 the company plans to reduce fixed assets wear and tear down to 59.2%.