05 June 2004 04:50
Russian Aluminum says has no investment interest in UES
MOSCOW. June 5 (Interfax) - UES of Russia and the Krasnoyarsk, Boguchansk, and Sayano-Shushinskaya hydroelectric
plants are not included in the sphere of investment interests of Russian Aluminum, the company has said in a
release.
The release was issued in response to a statement made by UES CEO Anatoly Chubais about Russian Aluminum at a
conference devoted to corporate management and economic growth, which was held in Moscow on Friday.
Chubais then said that Russian Aluminum's actions in the situation surrounding the Siberian hydroelectric power
plants are aimed against the interests of the UES shareholders.
"Russian Aluminum has never been a shareholder of UES or the Krasnoyarsk Hydroelectric Power Plant, is not a
plaintiff in the case involving the privatization of the property of Sayano-Shushinskaya Hydroelectric Power Plant, and
has never put forward any initiatives regarding the Boguchansk Hydroelectric Power Plant. All these things are simply
not in the sphere of Russian Aluminum's investment interests," says the release.
"The ungrounded accusations, the use of untrue information, and the organization of PR actions by the UES
management, whose purpose is to discredit Russian Aluminum, will not keep us from openly and publicly expressing our
opinions on issues relating to reforming," says the document.
At the same time, Russian Aluminum said UES is not taking any specific actions to launch new energy capacities and
accused the UES management, which, according to the release, "uses tariff and fee increases as the simplest and
ineffective methods of forming the company's investment budget," of not being able to implement market
mechanisms for drawing investment.
Russian Aluminum is one of the biggest electric power consumers in Russia. It accounts for some 10% of electric power
consumption in Russia, both direct and indirect.
Russian Aluminum is among the three world's largest aluminum companies. It produces over 70% of all primary
aluminum produced in Russia and some 10% of the primary aluminum produced in the world. [RU EEU EUROPE ASIA EMRG FIN ALU
CORA] av <>
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