The EDB and Inter RAO sign a cooperation agreement
St. Petersburg, 25 May 2018. Andrey Beliyaninov, Chairman of the Management Board at the Eurasian Development Bank (EDB), and Boris Kovalchuk, Chairman of the Management Board at Inter RAO, signed a cooperation agreement at the St. Petersburg International Economic Forum.
The parties intend to implement projects of strategic importance to the EDB member economies. They plan to develop cooperation in Central Asia, in particular in Kazakhstan and the Kyrgyz Republic. The parties also expect to cooperate in the framework of the future mechanism for selecting projects to reconstruct thermal power plants in the CIS countries. The agreement opens possibilities for joint work in respect of other power facilities, too.
The organisations envision interaction in the area of power engineering supplies, including the export of equipment manufactured by Inter RAO Group to the EDB member states.
“Inter RAO’s assets are currently present in several EDB member countries. With the advancement of industries in the region and the need to upgrade electric power facilities, a range of projects emerges where we can cooperate to mutual benefit,” Andrey Beliyaninov, Chairman of the EDB Management Board, said.
“Cooperation with the Eurasian Development Bank will help Inter RAO companies to progress in the regions of the Bank’s operation,” Boris Kovalchuk, Chairman of the Management Board at Inter RAO, noted. “This is of special importance as regards the construction of new electric power facilities, as cooperation with the EDB ensures the investment attractiveness of such projects.”
Additional Information
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
Inter RAO Group is a diversified energy holding operating in various segments of the electric power sector in Russia and abroad. The company is a leading electricity export and import operator in Russia. It is also extending its presence in the generation and sale segments and developing new areas of business. Inter RAO's strategy is focused on creating a global energy company to become one of the key players in the world’s energy market and a leader in the Russian power sector in terms of efficiency. The installed capacity of power plants owned and managed by Inter RAO Group is 33.5 GW.
Read more at www.interrao.ru