On 18 March, a meeting was held in the Permanent Representation of the Republic of Sakha (Yakutia) under the President of the Russian Federation (Moscow, Myasnitskiy Proezd) on implementation of the project entitled "Comprehensive Development of South Yakutia".
The participants in the event held by Senior Deputy Prime Minister of the Republic of Sakha (Yakutia) Gennadiy Alexeyev included representatives of federal ministries and departments (the Ministries for Regional Development and for Power, Rosavtodor and Roszheldor), industrial co-investor companies (RusHydro, the ARMZ Uranium Holding Company, the Kolmar coal holding companies, the Alros Group and Gazprom), as well as the project co-ordinator-investor South Yakutia Development Corporation.
The discussion centred on aspects of the launch of funding for the first stage of project implementation, specifically development of the design documentation. The fact that the CEOs of companies attended the meeting: the General Director of the ARMZ Uranium Holding Company Vadim Zhivov and Acting Chairman of the Management Board of JSC RusHydro Vasiliy Zubakin, as well as the General Director of OOO Kolmar Lev Kuznetsov, testifies that the matters discussed were priorities for investors.
In his introductory speech, Gennadiy Alexeyev congratulated the participants on a major event - the signing of Directive of the Government of the Russian Federation No. 302-р dated 10 March 2009 ,, approving the project passport and permitting launch of funding for it, and thank them for their active participation in promoting the project.
The General Director of the South Yakutia Development Corporation Mikhail Bruk presented the time schedule for interlinked measures that, if fulfilled precisely and smoothly, will allow project work to be initiated in July this year, outlined the matters to be resolved within the next two weeks in collaboration with the Ministry for Regional Development, executive organisations and investors. The main attention was focused on introducing amendments into the Federal Law on the Budget, completing specification of the terms of reference for design and preparing the investment agreement.
The participants in the meeting agreed on further co-ordinated actions.
Let us recall that the project passport envisages contribution of budget allocations of the Investment Fund of the Russian Federation to the authorised capital of the founded JSC Elkonskiy GMK-Project in an amount of over 2.7 billion roubles (for development of the design documentation for the Elkonskiy GMK), as well as to the authorised capital of JSC RusHydro in an amount of approximately 3 billion roubles (for development of the design documentation for the Kankunskaya HPP). The remaining funds out of those allocated by the state in 2009-1010 -- 7.8 billion roubles -- will be used for designing road and railways, electricity transmission cable and substations.
In general, the first stage in implementation of the project for development of South Yakutia is assessed at about 10.4 billion. roubles.