RusHydro signs agreement with Arunachal Pradesh State Government on prospective cooperation
JSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) announces signing of a Declaration of Intent aimed at cooperation over hydropower education initiatives in the State of Arunachal Pradesh (India). The declaration has been signed by the CEO of RusHydro, Mr. Evgeny Dod, and Secretary Planning, Mr. Sonan Chombay I.R.S., in presence of Honorable Chief Minister of Arunachal Pradesh, Mr. Nabam Tuki. The signing of this document signifies a mutual interest of the State Government of Arunachal Pradesh and Russia's leading power generating company RusHydro in development of education programs and activities, which will enable to share best practices and expertise in project development, construction and management of hydraulic facilities.
RusHydro International AG through RusHydro International India Private Limited, a joint venture registered in India, will pursue the opportunity to prepare a road map for implementation of education programs in the field of vocational and higher education under the auspices of RusHydro and India's leading state-owned hydropower companies.
Mr Evgeny Dod commented: "We need to broaden our cooperation and we have all the prerequisites to do so. Despite the fact that Russia and India maintain close ties, Russian-Indian cooperation in new areas might seem relatively dormant and therefore it is extremely important for us to give it an impetus and to convey to our partners the importance of relations between our countries in the field of renewable energy."
"The Declaration of Intent we have signed will bring bilateral relations between RusHydro and Arunachal Pradesh to a new level" said State Premier Mr. Nabam Tuki. "The Declaration of Intent on joint development of education initiatives could provide a basis for the region’s sustainable development as well as increased competitiveness in today’s knowledge economy and become an important pillar of bilateral long-term partnership between the two countries".
Rushydro International AG is a 100 per cent subsidiary of JSC RusHydro, which was incorporated in 2010 for developing and conducting business operations including rendering DPR, PMC, PMC, Owner’s Engineer, Operation and Maintenance and logistics services. RusHydro International is specifically designed to work at international and local projects, with a strong commitment to the preservation of nature and the environment. In the 4 years that followed its establishment, RusHydro International has undertaken some ambitious hydroelectric projects. Regarding the latest major foreign projects, RusHydro International AG has recently won a tender for projecting of the second largest HPP in Asia –Upper Siang (11000 MW). RusHydro International is looking to participate actively in several projects in the Asia-Pacific region and to be a leader in renewable energy engineering in this power sector.
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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