The competition for the opening of the credit line in the amount of RUR 207.68 million was announced.

IDGC of North-West declared the competition on services rendering for the opening of non-renewable credit line and the provision of long-term crediting of 110 kV substation “Yuzhnaya” investment project of “Novgorodenergo” branch of IDGC of North-West.

The volume of crediting is RUR 207.68 million, the maximum value of cost parameters of loan makes up 14.0 % per annum. Validity period of the credit line is till December 31, 2013.

The opening of envelopes containing applications will take place on October 6, 2008.

*** The construction of 110 kV substation “Yuzhnaya” is prescribed by the «Scheme of perspective development of electric grids of 35-110 kV of “Novgorodenergo” till 2015». The basis for performance of this investment project is the decision on the increase of reliability of electricity supply of the water supply point and Pskov residential neighborhood of Nizhniy Novgorod and also in connection with the reconstruction of the substation “Bazovaya” and the transition of the part of loadings to substation “Yuzhnaya”.

It is planned to install two 40 ÌVÀ transformers and distribution substations of 110 kV and 10 kV with SF 6 and vacuum circuit-breakers on the new substation. Relay protection and automatics of “Yuzhnaya” substation will be carried out in micro processing equipment.

Budgeted value of the new substation is RUR 368 million with VAT. It is planned to put the object into operation in 2009.