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UES investment could offer related sectors $60 billion in orders

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MOSCOW, October 2 (RIA Novosti) - Russian electricity monopoly Unified Energy System [RTS: EESR] expects its five-year investment program to bring related industries, orders worth over 1.5 trillion rubles ($60 billion).

Company head Anatoly Chubais said in his report to the Russian Chamber of Industrialists and Entrepreneurs that power plant engineering enterprises could receive orders worth 775 billion rubles ($31 billion), while orders could hit 273 billion rubles ($11 billion) in the electronic industry and 323 billion rubles ($13 billion) in the construction and assembly sector.

The UES investment program for 2006-2010 totals 3.1 trillion rubles ($124 billion).

Russia's power sector has undergone radical changes in recent years aimed at increasing the efficiency of power plants and developing the industry by attracting investment. During the restructuring process, specialized structures - wholesale and territorial generating companies - have been created in place of the old vertically integrated companies.

By the end of the reforms, potentially competitive parts of the industry - generation, sales and maintenance companies - will become mainly private and will compete with each other. However, natural monopoly functions - power transmission and dispatching - will remain state-controlled.

Wholesale and generating companies are to commission new power generating facilities with a capacity of more than 29 GW up to 2010.

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