Regular Meeting of RusHydro’s Board of Directors Approves Development Priorities
JSC RusHydro's (ticker symbol: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) Board of Directors held a regular Board meeting in person.
The BoD approved the list of priority projects to be implemented within the framework of the Innovative Development Program. The BoD also approved the concept of interacting with research and development institutes within the framework of the Program.
The BoD has also approved corporate development priorities for 2012 and given instructions to the Chairman of the Company's Management Board Evgeny Dod to develop a proposal on establishing RusHydro's Engineering Center.
The BoD addressed the provision of safety and the reliability of existing facilities through a complex program of technical rehabilitation and modernization, as well as new construction investment projects.
The priority list also includes an increase in operational profitability, principally via a cost reduction program of, the synergistic effect between lines of business, upgraded energy efficiency and other aspects of modernization and technological development.
The BoD has adopted changes in the Company's procurement policy, including the requirement to disclose the beneficiaries of suppliers, including end beneficiaries.