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Russian power generation companies of Inter RAO Group published the RAS Financial Results for 2017

PJSC Inter RAO to Relocate Service Divisions to the Ivanovo Region

5 February 2018

PJSC Inter RAO and the Government of the Ivanovo Region have entered into an agreement on cooperation under which a legal entity is to be established in the region to service the company’s operations. The document was signed by Boris KOVALCHUK, Chairman of the Management Board of PJSC Inter RAO, and Stanislav VOSKRESENSKY, acting governor of the Ivanovo Region.

According to the document, the subject of the agreement is cooperation between the parties aimed at the establishment and long-term development of favourable social and economic conditions in the Ivanovo Region.

In particular, PJSC Inter RAO undertakes to facilitate activities aimed at creating social and economic development programs for the region, to ensure consideration of potential housing, utilities and power sector investment projects, including those based on various forms of public-private partnerships, and to establish a common company service center in the Ivanovo Region.

In its turn, the Government of the region undertakes to support the work of the new operation, will consider the establishment of an information and payment processing centre together with PJSC Inter RAO in the Ivanovo Region in order to organize the creation of a uniform payment document and will promote the employment of highly qualified staff by the enterprises of the region.

“As a result of implementing the agreement, jobs will be created in the Ivanovo Region, a new business operation will be registered, which will bring additional tax revenue to the regional budget,” said Boris KOVALCHUK. “Inter RAO Group, which is currently managing the Ivanovo gas and steam units and is implementing a number of R&D projects in the region, is committed to the development of mutually beneficial strategic cooperation with the Government of the Ivanovo Region in the electricity sector”.

The Ivanovo Region is proud of its nationally famous Ivanovo State Power University. Heads and chief engineers of many large federal power companies graduated from it. I am convinced that Inter RAO's new structural subdivision will also be able to recruit highly qualified staff, and new jobs with official salaries and good working conditions will be created in the region," Stanislav VOSKRESENSKY pointed out.

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Inter RAO Group is a diversified energy holding serving various segments of Russian and international electric power industry. The Group is the leading exporter and importer of electricity in Russia actively increasing electricity generation and sales, and developing new lines of business.

The corporate strategy of Inter RAO is focused on making Inter RAO a global energy enterprise, a key player in the global energy market, and Russia's leading electric utility by energy efficiency. Inter RAO Group owns and operates approximately 33.2 GW of installed power generation capacity.