Ekaterinburg (Ural Federal District, Russia) – IDGC of Urals, OAO (MICEX: MRKU) reports on Board resolutions.
On Feb. 29 2016 the Board of Directors has conducted an in-absentia Board meeting. In the course of the meeting directors have scrutinized and decided on the range of corporate issues.
The Company’s Board of Directors has decided to adopt a draft of the 2016 and beyond investment program, subject to public hearings, pursuant to clause 7 of the Investment Program Adoption Rules (approved by Russian Government Decree dd. 01.12.2009 #977), following which the Board of Directors will reconsider the program with due regard to comments and available suggestions.
The drafted investment program for 2016-2021 comprises RUB 42,415 mn (incl. VAT) for capex funding, including RUB 25,156 mn for refurbishment and reconstruction (incl. RUB 6,325 mn for connection), RUB 17,209 mn for new construction (incl. RUB 16,087 mn for connection) and RUB 51 mn for acquisition.
The program is prepared pursuant to regional development plans, network equipment health, importance of energy facilities and current economic environment. It also delivers key goals of the Company: to guarantee faultless energy supply and execution of connection contracts.
To view the full version of the BoD protocol, please, visit Section “Board of Directors”.