RusHydro announces tender to select general contractor for construction of Sakhaliskaya TPP-2
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces that its subsidiary Sakhalinskaya TPP-2 has launched an open tender for selection of a general contractor for construction of Sakhalin TPP-2. The initial price of the project is capped at RUB 30.2 bn. The tender will be completed by November 18, 2014.
The winner will be awarded turn-key construction contract with Sakhalinskaya TPP-2, 100% subsidiary of RusHydro, managed by JSC RAO Energy Systems of the East (RusHydro Group). The scope of work includes actual construction, supply of main and auxiliary equipment, as well development of working documentation.
Earlier the state evaluation agency the Federal agency of assessment (Glavgosexpertiza) confirmed full compliance of project documentation with existing technical requirements and acting legislation.
The applicants have to demonstrate relevant experience of similar construction projects and need to possess adequate human and technical resources.
Beginning with March 2013 RusHydro introduced additional corporate standards, aimed at tighter control of contractors and suppliers: the tender participants have to disclose full information on subcontractors, up to the last actual supplier of goods and services. Also the participants have to provide information on the ownership structure, including end beneficiaries.
Sakhalinskaya TPP-2 is one of four new projects in the Far East of Russia implemented by RusHydro jointly with RAO of the East. The designed capacity of the first phase is 120 MW, thermal capacity 15 GCal*h. Planned annual electricity output is 840 mn kWh. Commissioning of the plant will increase reliability of power supply and enable development of housing and industry in the region.
The information in this press release may contain projections or other forward-looking statements regarding future events or the future financial performance of RusHydro. You can identify forward looking statements by terms such as "expect," "believe," "anticipate," "estimate," "intend," "will," "could," "may" or "might," the negative of such terms or other similar expressions. We wish to caution you that these statements are only predictions and that actual events or results may differ materially from these statements. We do not intend to update these statements to reflect events and circumstances occurring after the date hereof or to reflect the occurrence of unanticipated events. Many factors could cause the actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, general economic conditions, our competitive environment, risks associated with operating in Russia, rapid technological and market change in our industries, as well as many other risks specifically related to RusHydro and its operations.
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