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20

Enel to invest $2.8 billion in Russia by 2013

Italy's biggest utility, Enel, is going to invest $2.8 billion in Russia by 2013

This intention was confirmed by Enel's chairman Piero Gnudi, during his visit to a power generation plant in Yekaterinburg that Enel acquired in 2008. The finances will be directed into upstream gas and the generation and sale of power.

In March, Enel announced a cut of 12 billion euros in its overall capital expenditure program for the period from 2009 to 2013. But Russia, where it controls power producer OGK-5, remains one of its key markets.

Author: Ksenia Kochneva

Source : Reuters