11 September 2018

SUEK complete the deal for the purchase of Siberian Generating Company

According to SUEK’s CEO Vladimir Rashevsky, Siberian Coal Energy Company does not have a plan to purchase other energy assets in the future.

Siberian Coal Energy Company (SUEK) completed the deal to buy a 99.94% stake in Siberian Generating Company (SGC), SUEK’s CEO Vladimir Rashevsky said during EEF.

‘SUEK bought shares in SGC, and today this is an integrated coal and energy business,’ he said.

Rashevsky noted that the company does not plan to purchase other energy assets in the future. ‘SUEK and SGC belonged to the same group; in fact, we just configured it differently (the structure of both companies - editor's note),’ Rashevsky added.

SGC is the largest heat-generating company in Siberia. It serves more than 5 million consumers in six regions of the Siberian Federal District; the total length of its network exceeds 9,600 km. The company produces 23-25% of all heat (23,900 Gcal/h) and electricity (10.9 GW) in Siberia.

Source: ТАСС
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