United Company RusAl said Thursday that it had no outstanding debts on its Boguchanskaya hydropower joint venture with RusHydro and that it would remain a 50 percent owner.
“The form of managing the project is fully in the interests of RusAl, as RusHydro guarantees that the timelines of the launch and the budget for the construction, which took into account optimizations suggested by RusAl, will be sustained,” RusAl’s press office said in e-mailed comments. “All the extra funding exceeding the agreed budget will be provided by RusHydro,” but the partners’ stakes will remain unchanged.
RusHydro said Wednesday that RusAl had paid “all but a small portion of its debt” from 2008. RusHydro spokesperson Yelena Vishnyakova said by e-mail Thursday that “RusAl and RusHydro are in talks about the management structure and funding scheme.” A decision will be made at a RusHydro board meeting Dec. 10, she said.
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