For two weeks, Stankomash, an industrial enterprise located in Chelyabinsk Region, has only been getting emergency power supply as its debt to ChelyabEnergoSbyt, the supplier, came to 7.8m RUR on September 1, 2006. The negotiations between the tow companies resulted in a compromise, the spokesperson for ChelyabEnergoSbyt said to UrBC representative. The management of Stankomash guaranteed the payment of debts by giving the supplier a schedule of payments and a promise made by the director of the works in person. ChelyabEnergoSbyt decided to start supplying the company with electricity in

Ural Turbine Works (part of Renova Group) is going to make the first K-63-90 condensing turbine next year. The turbine is meant solely for electricity generating and will be installed at the power station of Sokolovskiy-Sarbaiskiy ore mining and processing enterprise in Rudnniy, Kazakhstan. The corresponding contract is to be signed at the end of September. Lonas Technology of Saint Petersburg and UralEnergoRemont became the developer and the general contractor of the project, respectively. ‘Ural experts used to deal in cogeneration turbines only, but now the market demands more flexibility,

According to the Minister for International and Foreign Economic Relations of Sverdlovsk Region Viktor Koksharov, the residents of Sverdlovsk Region will be able to obtain Schengen visas in the German consulate located in Yekaterinburg starting this December. Mr Koksharov said that the consulate was currently waiting for the visa-issuing equipment to arrive from Germany. Russian citizens from the other regions will only be able to get visas after the consulate, situated in Atrium Palace Hotel at the moment, moves to its new building.

Sverdlovsk Gubernskiy Bank keeps improving mortgage lending terms; one of the improvements has been signified by the introduction of a new mortgage program called My House 2. This program allows a client with 30% of the cost of their would-be dwelling and with the preliminary purchase and sale agreement to get a mortgage of up to 15m RUR for a term of up to 15 years that they can use to have a cottage of their choice constructed for them. Collaterals or sponsorships are not required. The bank has also introduced a differentiated interest rate for the program called My House, and it now

The NIS and Russia’s leading refractory goods manufacturer, Magnesite Group has recently started developing Goluboye field in Krasnoyarsk Region (the village of Razdolinsk). The mining operations began in late August, with industrial extraction and shipments scheduled for the end of 2006 or the beginning of 2007. The explored reserves of Goluboye deposit come to 15.5m tons, yet the amount may turn out to be larger after additional exploration work is done. The estimated throughput of the pit is 200,000 tons of raw magnesite a year. According to the Group experts, this output will have been

The retail electric power market, previously operating on the basis of general legislative acts (the Power Industry Act and some others), now has a special set of norms called Retail Market Regulations, the spokesperson for ChelyabEnergoSbyt, the regional supplier, said to UrBC representative. The main thing about these Regulations is setting up the institute of guaranteeing suppliers. The guaranteeing supplier status is obtained by the company that has no right to refuse any client wishing to use their electricity supplying services. Thus the state ensures reliable energy supply and gives

UralNefteProduct, the regional subsidiary of LUKOIL, has recently announced that it is going to raise the retail oil prices on September 12, 2006. As the company’s spokesperson said to UrBC representative, AI-76 petrol is now .5 RUR more expensive and costs 15.5 rather than 15 RUR per liter, AI-92 is sold at 18.8 instead of at 17.8 RUR, AI-95 and AI-98 are now both 1 RUR more expensive (20.3 and 20.5 RUR, respectively). Diesel fuel seems to have remained almost unaffected: the price per liter only went up by .1 RUR and reached the point of 17.6 RUR. The price of a ton of diesel fuel has been

UralSvyazInfrom, the local phone operator, is going to unsubscribe its landline users with debts on September 12, 2006, which covers the total of 35,020 subscribers as of September 1, 2006. The procedure is expected to be phased out and will last until September 21. Some 2,000 users will be unsubscribed daily. In order to avoid this, the clients of the company must pay the last bill before September 11. The Federal law on telecommunication and the terms of the company’s service agreements state that the subscribers shall pay their bills in due time, with the deadline indicated on the monthly

SibAcademBank JSC assessed the results of its activity in August. The bank has made 966m RUR of net profit since the beginning of the year, which exceeds the figures for eight months of 2005 by three times. Its net wealth rose by 7% and reached the point of 52,145m RUR on September 1, 2006; this figure increased by 2.8 times compared to a year earlier. The bank’s balance sheet total amounted to 69,562m RUR on September 1, 2006, which is 3.15 times better than last September. The bank’s equity capital comprised 7.816m RUR, which exceeds the figures for last September by 3.9 times, reports the

‘1,250,000 square meters of dwellings will be built in 2006, with the volume of mortgage loans to natural persons coming to 3,7bn RUR this year and 5.3bn RUR in 2007,’ First Deputy Head of Sverdlovsk Region Government for Economic Policy and Prospective Development Galina Kovaleva announced at the 4th international banking forum called Russian Banks in the 21st century. ‘In order to support builders who operate in rural areas and for civil servants as well as young professionals, we have allotted 182.1m RUR from the regional budget. Young families will also be given subsidies (the total of

Utair Airlines assessed the results of their activity in the eight months of 2006. Within this period, the company has serviced 1,609,288 passengers and handled 701.1 tons of airmail and 5,734 tons of freight. The company flew the 71,575 flight hours, reports the spokesperson for Utair.

Sverdlovsk Region keeps building up its share of export in the regional economic activity; the share of exported goods has gone up by 15.2% and amounted to $3,409m worth of produce in the first half of 2006; the share of imported goods reached the point of $812.3m worth of produce, reports the spokesperson for the Governor.

Following the decision made by the shareholders at the general meeting (and in accordance with the agreement obtained from the General Administration of the Bank of Russia in Sverdlovsk Region), former Chairman of the Board of Directors Sergey Lapshin was elected Chairman of the Management Board of Bank24.ru. He will start performing in this capacity on September 11, 2006. The former Chairman is going to join the Board of Directors.

Kyshtym Copper Electrolysis Plant CJSC (part of Russian Copper Company CJSC) is putting up a shop meant for production of rolled wire with the estimated capacity of 90,000 tons of copper wire rods a year. The shop should be launched in the middle of 2007. According to the spokesperson for Russian Copper Company, its total throughput in terms of rolled wire production is expected to rise to 200,000 tons annually, which means that the company will increase its throughput by twenty times (from 10,000 tons to 200,000 tons a year) within four years (2003-2007).

Given the global leadership of Japanese producers of powerful gas turbines and the design projects of Ural turbine makers (some projects provide for an over 57% coefficient of efficiency of a steam-gas turbine), these two parties, represented by Mitsubishi Heavy Industries and Ural Turbine Works (part of Renova Group), respectively, have impressively good grounds for close cooperation. This was the conclusion made by the executives of Russian and Japanese enterprises in the course of negotiations held in Yekaterinburg. MHI isn’t the first the first foreign company to take interest in our

The meeting of the Board of Directors of First Generating Company of the Wholesale Electric Power Market OGK-1 will be held on September 12, 2006. The points on the agenda cover the discussion of the company’s crediting policy report and the procurement activity report. The other points have to do with the preliminary approval of a transaction that could lead to liability whose scale depends on foreign currency. The voting will be performed in absentia until 6 PM on September 12, 2006. OGK-1 was registered on March 23, 2005 and, according to the decree of the Russian Government, it includes

As the Corporation’s acting PR Director Roman Fedulin said to UrBC representative, the decision of the Board to hold an extraordinary general meeting was made after the application of a shareholder who possesses around 10% of the company’s shares. The extraordinary general meeting of VSMPO AVISMA Corporation has been scheduled for November 7, 2006. Among the points on the agenda are: early termination of the Board Members’ powers and electing the new Board of Directors. The federal law on joint-stock companies, supported by the corporate Charter, states that shareholders possessing the total

World Association of Nuclear Operators will be examining Beloyarskaya nuclear power plant from September 3 to September 15, 2006; the expert team consists of 18 people, including the citizens of the U.S., France, India, the Czech Republic, Hungary, Slovakia, Bulgaria, and the Ukraine. The team has to assess the state of events at the plant in terms of quality and reliability of the plant operation and of the equipment maintenance, the condition of the engineering support and radiation protection, the extent to which the plant staff use the experience of their colleagues, the chemical

The shareholders of Bread-Making Plant of Zlatoust decided to float ordinary registered noncertificated shares in the course of the extraordinary general meeting. The shares are floated via convertion in case of a stock split, with 17,304 ordinary registered noncertificated shares with face value of 1 RUR each converted into 34,608 ordinary registered noncertificated shares with face value of .5 RUR each through splitting one ordinary registered noncertificated share with face value of 1 RUR in two ordinary registered noncertificated shares with face value of .5 RUR each; the old shares must

The Russian Government came up with the prospective federal property privatization plan for the years 2007-2009. This plan provides for privatization of 14 enterprises of Sverdlovsk Region, including UralAviaTechSnab JSC. 100% of this company’s authorized capital is owned by the government at the moment, and, according to the plan, 5,149 shares are to be sold to private holders. Given the medium-term forecasts for Russia’s socio-economic development and the estimates of the privatized companies’ cost in 2007, the federal budget is likely to receive 41bn RUR in the form of profits on sales.