Wednesday, August 23, 2017

MRSK Ural approves changes to investment program

Russian energy company MRSK Ural announced on Tuesday that its board of directors has approved a draft of the company's adjusted 2014-2019 investment program.

Capex for 2014 remained at the company's initial target of $133.3 million, with no changes to the subsequent years until 2019, where the figure was adjusted to $159.4 million. The combined Capex target for the five-year program originally set at $702.2 million has been adjusted to $862.6 million.

Similarly, targets for funds, commissioned assets and commissioned capacities for 2014 through 2018 remained unmodified. Meanwhile, adjustments were made to each of the category's 2019 figures. The adjusted five-year combined targets have been calculated at $1.05 billion, $894.4 million and $45.4 million, respectively.

During the same meeting of MRSK's board of directors, the trustees approved VTB Strakhovanie as the company's general liability insurance provider. Moreover, the board members approved new auditing procedures.