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VTB and OGK-1 develop cooperation

 
7 April 2009

Striving to enhance cooperation with the largest Russian power generating company, JSC VTB Bank has set a RUB 1.5 billion credit limit to JSC OGK-1.

The limit will allow the company to use a wide range of VTB’s opportunities for financing current needs through various instruments accepted in the international banking practice.   

The cooperation with power generating companies is a further step aimed at developing partnership relations between VTB and electric power industry, which is a top priority business line for the Bank.

 

For reference:
First Power Generating Company in the wholesale energy market (OGK-1) is the largest thermal wholesale power generation company.   
 
The installed capacity of OGK-1plants is 9,531 MW. They are located in the Urals and the Central power systems. These are Permskaya GRES, Verkhnetagilskaya GRES, Kashirskaya GRES, Urengoyskaya GRES and Iriklinskaya GRES. Two power units of Nizhnevartovskaya GRES were transferred to the authorized capital of ZAO «Nizhnevartovskaya GRES». 100% shares of ZAO «Nizhnevartovskaya GRES» belong to NVGRES HOLDING LIMITED (NHL). 75% minus 1 share of the NHL authorized capital belong to JSC «OGK-1», 25% +1 share belong to TNK-BP.    

OGK-1 shares are traded on the MICEX Stock Exchange (OGK-1), on the RTS’ Classic Market and on the RTS T+O Market (OGKA and OGKAG accordingly).

From July 1, 2008 43% of Company shares belong to Federal Grid Company, 23% - to RusHydro, and 34% - to minority shareholders.


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