Failure of Bystrinsky GOK launch by Norilsk Nickel may cause negative revaluation of the company’s shares
Edited by Rhod Mackenzie / 2014-10-09 05:05:46
Comments from Ayrat Khalikov, analyst of Veles Capital.
According to executive director of Norilsk Nickel, Pavel Fedorov, the company may change the date of the launch of the Bystrinsky GOK because of unavailability of infrastructure. Norilsk Nickel is to launch GOK in 2017, but there is a risk that transmission lines to Kharanorskaya hydro-electric plant and the railway, the construction of which should be financed by the state, won’t be constructed by that time.
The construction of 220 kV transmission line Kharanorskaya hydro-electric plant - Bystrinskaya with 220 kV substation cost 7.1 billion rubles, but the Federal Grid Company’s investment program provides for only 2.4 billion rubles.
