Rus News Journal

the Presidium of the Supreme Arbitration Court of the Russian Federation will consider the problem on legality of privatisation of Sajano - Shushensky HYDROELECTRIC POWER STATION

the Presidium of the Supreme Arbitration Court of the Russian Federation (YOU) on Tuesday plans to consider the problem on legality of privatisation of Open Society " Sajano - Shushensky HYDROELECTRIC POWER STATION " have informed " News " in a press - court service.

Sajano - Shushensky HYDROELECTRIC POWER STATION - the largest hydrostation of Russia which are in republic Khakassia. The total established capacity of station - 6721 MVt. The largest shareholder is the Russian Open Society " UES of Russia " (78,9 % of actions) own. About 8 % of actions are supervised by structures " the Base element " about 2 % - Russian Opportunities Fund.

At privatisation SSHGES Khakassia instead of a share in an authorised capital stock has acquired the right to purchase of its electric power under the holiday tariff in volume of internal consumption.

in April, 2003 the government of Khakassia has submitted the claim W the requirement to recognise the transaction on privatisation of HYDROELECTRIC POWER STATION insignificant. Simultaneously the regional authorities have directed to the Russian Open Society " UES of Russia " the project of the agreement of lawsuit in which suggested to save the present price of an electricity 4 Khakassia till 2020. The Russian Open Society has refused to conclude it.

the republican arbitration court refused the claim to the government of Khakassia twice, however in March, 2004 cassation instance - the Federal arbitration court East - the Siberian district has cancelled the decision of appeal instance, recognising privatisation illegal, and has obliged the Russian Open Society " UES of Russia " as basic shareholder to return property SSHGES in state property.

the Russian Open Society " UES of Russia " has directed on this decision the supervising complaint to the Supreme Arbitration Court.

in parallel W it in May of this year at annual meeting of shareholders SSHGES the decision on a re-registration of station from Khakassia to Krasnoyarsk region was accepted.

After that in republican arbitration from the minority shareholder of station - the Cyprian offshore Helington —ommodities Ltd. The claim ABT a recognition of this decision has been submitted by the illegal. In maintenance of the claim the re-registration has been forbidden.