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Putin orders transfer of stake in Inter RAO UES to nuclear corp.

MOSCOW, March 20 (RIA Novosti) - President Vladimir Putin ordered the transfer of the state's shares in electricity export-import operator Inter RAO UES to the Federal Nuclear Corporation, the Kremlin said on Thursday.

Rosatom will also receive state-owned shares in a hydro-electric plant in ex-Soviet Tajikistan and a thermal power plant in Russia's exclave on the Baltic, Kaliningrad.

The corporation will also hold stakes in nuclear power plants formerly run by the state-owned nuclear power monopoly Rosenergoatom.

Inter RAO UES, a joint venture between RAO Unified Energy System (UES) and Rosenergoatom, which hold 60% and 40% in the company respectively, controls over 20 electricity companies abroad, including in Georgia and Armenia.

The state owns 52.7% in the electricity holding, which will be liquidated by July 1 once its reform is completed. The government is expected to hold only the grid and distribution services.

The presidential decree ordering the transfers formalizes the emergence of the Federal Nuclear Corporation, which replaces the Federal Agency for Nuclear Power, also known as Rosatom.

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