Board of Directors of OAO TGC-14 to approve the proposal of the Director Sergei Vasilchuk the need to develop a long-term investment program for the period 2010-2015. Prior to 1 December this year, the new expanded investment program should be submitted for approval by the Board of Directors, said the official statement of TGC-14.

The cost of the investment program is planned to increase to 19.2 billion rubles (without VAT) for its financing will be attracted additional sources, including loans of 3.1 billion rubles.

These funds will be spent on rehabilitation and reconstruction of obsolete equipment, which is a top priority for the company, since the operating assets of TGC-14 is much worn: the average age of equipment and heating systems - 50 years. Boiler Trans-Baikal region, administered by the company, have wear 66,7%, time limits have served 77% of the backbone networks.

In addition, to be held additional issue of shares amounting to 9.2 billion rubles for the development of energy infrastructure,construction of new generating capacity.

The decision marks a significant, compared with previous estimates and plan, increased investment in development and re-manufacturing assets of TGC-14. For comparison, in 2008 investment program of the company amounted to less than 300.5 million rubles, and in 2009 is expected to learn about 1,4 billion rubles. The new program provides about 4 billion rubles a year on average in the period 2010-2015.
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