Polyus Gold moves into the power industry.

The Federal Grid Company (FGC)has figured out how to get new network into operation almost for free. As "the Kommersant" newspaper informs, Polyus Gold will invest 2 billion roubles into the construction of the transmission lines and substations in the Krasnoyarsk region to increase the ore production at Blagodatnoye deposit, and the FGC will only supervise the construction and subsequently redeem the objects with installments for 10 years due to the tariff revenue. Under this scheme the network monopoly expects to negotiate with the shipping companies.

The FGC will receive one share in the joint venture project with Polyus Gold "Taygaenergostroy" (100% owned by CJSC "Polyus") for its nominal value of 10 roubles, the "Rossetti" documents state (controlled by the FGC). This company has to build a 220 kV substation "Taiga" and a 220 kV line Razdolinskaya – Taiga connecting the Boguchanskaya HPP with the manufacturing facilities of Polyus Gold. Polyus Gold will invest about 2 billion roubles into the construction of the transmission lines and substations, the FGC reports. The company will construct the objects, not included in the investment program of the FGC, within two years, the network monopoly will implement the technical supervision. Then FGC will redeem the network objects "on favorable terms" – with installments for 10 years and a discount of 30%. The funds will be taken from the transmission tariff, the company specifies.