Private Foreign Companies Intend To Enter Electricity Market Of Russia

Several private foreign companies are considering entering Russian electricity market, Energy Minister of Russia Sergei Shmatko reported.
"The list of usual private investors may be changed. You know, there is a process of consolidation. I know several foreign companies that are considering possibilities to enter Russian market" - he said, adding that "this is a good indicator." Minister did not name these companies.
This week the head of holding "Interros" (a major shareholder of Norilsk Nickel), Vladimir Potanin, said that Nornikel is advisable to sell its stake in the wholesale generating company OGK-3. He estimates the volume of such transactions of $2,5-3 billion.  

Another major shareholder of Norilsk Nickel the aluminum giant Rusal has approved the possibility of such  transaction as  OGK-3 is a non-core asset of Norilsk Nickel.
According to the internet site of the generating company, Nornikel directly owns 65.16% of OGK-3.
OGK-3 comprises six power plant with total capacity of 8.4 gigawatts, their share in national generation exceeds 5%. They are located mainly in regions where the enterprises of Norilsk Nickel are located.
By Materials of RIA Novosti

Net Profit of Rusal in 2010

Net profit of RUSAL by  International Financial Reporting Standards (IFRS) in the I half of 2010 amounted to 1 billion 268 million dollars compared with a net loss of $ 868 million in I half of 2009., the press service of the company reported.
Revenues for the period increased by 41,6% - up to $ 5.321 billion rise in the company connects with an increase in aluminum prices.
Operating profit for Rusal in the I half of 2010 amounted to 1 billion 034 million dollars compared with a loss of $ 487 million dollars in the I half of 2009. Operating margin was 19%.
Adjusted data EBITDA in the I half of 2010 increased to 1 billion 325 million dollars compared with a negative adjusted EBITDA of $ 144 million, up I half of 2009. Adjusted EBITDA margin was 24.9%.
Investment in enterprise development and construction of new assets amounted to 457 million dollars, of which 208 million dollars were used to refinance the loan for the project BEMO, $ 52 million from funds raised during the IPO, were used to repay the loan on a BEMO According to the agreement on debt restructuring for Rusal.
The market value of company-owned stake in OAO GMK Norilsk Nickel, as at 30 June 2010 amounted to 7 billion 168 million dollars compared to 6 billion 707 million dollars at 31 December 2009. Thanks to positive dynamics of growth stocks in the I half of 2010 .