Russia approves $29 billion power plant upgrade program

MOSCOW (Reuters) – Russian Energy Minister Alexander Novak said on Thursday that the government has approved the start of a modernization plan for domestic power plants worth about 1.9 trillion rubles ($28.84 billion).

Russia’s power sector is one of the most competitive in the country, including state players, private investors and foreign companies such as Italy’s Enel (MI:) (MM:).

($1 = 65.8875 rubles)

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