Gazprom Energoholding sells Ondskaya GES
Edited by Rhod Mackenzie / 2014-06-19 01:41:11
Metals and mining Oil and Gas RUSAL Russia Russia Metals and Mining Russia Oil and Gas Aluminium Gazprom
UC Rusal and Gazprom Energoholding have agreed about the sale of the Ondskaya GES in Karelia. The negotiations have lasted for 1.5 years. The Board of Directors of TGK-1 agred on June 9th the sale of the station for 2.1 billion rubles.
The Nadvoitsky aluminum plant is the majority consumer of Ondskaya GES with capacity of 80 MW. In 2007 – 2012, aluminum dropped in price by 14% to $2,000 per ton, and production at Nadvoitsky aluminum plant became unprofitable. The owner was going to close the plant but agreed to maintain production if it purchases the GES and the network. The President V. Putin approved that in spring 2013.
