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Government refrains from nationalization of Sayano-Shushenskaya power plant
RBC, 30.04.2004, Moscow 15:35:03.The government has not made and has no plans to make any moves aimed at reversing the privatization of the Sayano-Shushenslaya hydroelectric power plant, Deputy Prime Minister Alexander Zhukov told reporters today. According to him, active discussions in the media in connection with the government's alleged decision to start the process of nationalization, including the nationalization of this power plant, are groundless. "The government has not made such decisions, and it will not make them in the future," he underscored. According to the Deputy Prime Minister, the government is obliged to obey court rulings with regard to the Sayano-Shushenskaya power plant, and the Cabinet will not make any moves before the court hearings are over. Additionally, Zhukov underlined that the government would make every effort to avoid infringing on the interests of minor shareholders in RAO UES of Russia. As reported earlier, in April 2003 the government of Khakassia filed a lawsuit to declare void the privatization of the Sayano-Shushenskaya hydroelectric power plant. The arbitration court of that republic rejected the claim. However, the Federal Arbitration Court of the East-Siberian District declared void the privatization of the Sayano-Shushenskaya power plant on March 12, 2004. In accordance with the court ruling, the Russian government has instructed the Economic Development and Trade Ministry to consider the question of reassigning the power plant to the federal government. The respective letter was signed by Deputy Prime Minister Alexander Zhukov.
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