Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

EuroSibEnergo Narrows Loss

EuroSibEnergo, the power generator owned by Oleg Deripaska, narrowed its loss in the first half as prices rose.

It posted a net loss of 1.89 billion rubles ($60 million), after a loss of 6.54 billion rubles a year earlier. Sales rose 18 percent to 51.8 billion rubles, it said on its web site Tuesday.

EuroSibEnergo, which has considered a Hong Kong initial public offering, supplies electricity to the Siberian aluminum smelters of Deripaska's United Company RusAl.


Read more