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Printed from: http://petersburgcity.com/news/business/2003/10/29/lenenergo/ Business news, 29.10.2003 12:01 Lenenergo plans to invest USD 140 million in 2004
Lenenergo's investment programme for 2004 has risen by 19% year-on-year to EUR 140 million. This was announced yesterday by Lenenergo General Director Andrei Likhachov.
He said this sum would consist of a EUR 40 million loan from the European Bank of Reconstruction and Development and would also include funds received from a recent issue of bonds with a nominal value of USD 100 million. Lenenergo plans to invest these funds in constructing a power plant in Saint Petersburg and reconstructing other facilities. Lenenergo's main shareholders are UES of Russia (49%) and Finnish company Fortum (15.7). Net profit came to USD 14.73 million in the first half of 2003 while total sales came to USD 460 million.
News source: www.rosbaltnews.com
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