Novokuznetsk Municipal Utility complex (electricity, heating)

active

In April 2003 the municipality of the city of Novokuznetsk and Metalenergofinance signed a lease agreement for the municipal electricity network. Metalenergofinance began to distribute electricity to several large industrial customers, to more than 3,000 of small and medium enterprises, and to more than 500,000 residents of the cities of Novokuznetsk, Tashtagol and Tashtagol province (Kremerovo region). Shortly, the lease agreement for the heating network (distribution of hot water) was signed between municipality and Metalenergofinance. The single entity responsible for both electricity and heating distribution was created, employing more than 130 people. In july 2003, Metalenergofinance took industrial heating plant and heating network of the sity of Tashtagol (Kremerovo region)under its management as well. In 2004 Metalenergofinance invested into the networks about 3 million $US (96 million rubels), and planned to spend similar amount in 2005. Metalenergofinance Lld. («Металлэнергофинанс») was created in November 1999 as subsidiary of EvrazHolding (Evraz Group S.A.). Evraz Group S.A. owned several large steel plants and other industrial entities in Russia, including those in Kremerov region. Novokuznetsk's population was about 563.3 thousand people in 2005, it was one of the largest steel producing and coal mining centers in Russia. no information on contract duration or investment responsibilities http://www.mef.ru/index_frame.php (Metalenergofinance site) http://www.evraz.com/ (Evraz Group S.A. site)