RusHydro and ALROSA signed agreement on strategic cooperation
September 7, 2017. Vladivostok, Russia. PJSC RusHydro (ticker symbol: MOEX, LSE: HYDR; OTCQX: RSHYY) and PJSC ALROSA (MOEX — ALRS) have signed an Agreement on strategic cooperation at the Eastern Economic Forum in Vladivostok. The document was signed by Nikolay Shulginov, Chairman of the Management Board - General Director of RusHydro, and Sergei Ivanov, President of ALROSA.
The two companies see each other as strategic partners and intend to strengthen cooperation in development of energy infrastructure of Sakha (Yakutia) Republic as well as the entire Far Eastern region.
Nikolay Shulginov: “RusHydro and Alrosa have been successfully cooperating in the field of reliable and safe energy supply in Sakha (Yakutia) Republic for many years. I’m confident that exchange of experience and coordination of effort, aimed at optimization of energy consumption and water regimes, joint proposals aimed at development of power infrastructure and attracting investment in the region will be mutually beneficial for our companies.”
Sergei Ivanov “ALROSA’s operations are very energy consuming. We are putting effort in increase in energy efficiency and lower cost of energy, therefore it is necessary to unite effort of ALROSA and RusHydro, the flagship of power industry in the Far East, in order to develop joint proposals, aimed at development of power infrastructure of Sakha (Yakutia) Republic. Given the fact that according to existing plans the western energy region of Yakutia, where 80% of ALROSA’s energy consumption is concentrated, will be linked to wholesale market of electricity and capacity in the near future, joint coordinated efforts from management of both RusHydro and ALROSA is required”.
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