ABB and Mosenergo sign cooperation agreement

Both companies hold an interest in mutually beneficial long-term cooperation to introduce modern technologies and equipment in Russia.

Moscow, Dec. 4, 2002 - ABB, the leading power and automation technology company, and OAO “Mosenergo,” a large Russian regional power utility, today signed a General Cooperation Agreement.

The agreement covers cooperation in several key areas of development, such as: modernization of power equipment, reconstruction of electric power stations, heat and electric control systems, high-voltage equipment and equipment for automation, distribution systems, among others.

“Mosenergo” and ABB formed a council on business-like cooperation, which will coordinate all activities within the agreement.

Yuri Kozlov, Country Manager for ABB in Russia, signed the agreement on behalf of ABB. He said: “This strategic alliance is another signal that ABB intends to remain a significant partner to the Russian market. Our strategy in Russia is to build on local production potential with the leading technologies and know-how of our Group.”

Arkady Evstafiev, General Director of OAO “Mosenergo,” who signed the agreement on behalf of OAO “Mosenergo,” said: “The basic provisions to the agreement meet strategic purposes and cooperation requirements of “Mosenergo.” They are aimed at introducing modern technologies and equipment for power generation, transmission and distribution to the utility companies.”

ABB and OAO “Mosenergo” have cooperated on projects dating back to the beginning of the 90s. Since then both companies have gained wide experience in a number of successful projects, including those under the “Program of Cooperation” which “Mosenergo” and ABB signed in 1997.

The previous cooperation resulted in: GT CHP “Elektrostal”, CHP-27, CHP-20, CHP-22, CHP “Yuzhnaya”, s/s Zoubovskaya, s/s Sviblovo, s/s Boutyrskaya, s/s Ochakovo, s/s City.

OAO “Mosenergo” is one of 74 of the largest regional power supply companies in Russia; its share equals to 6% of heat and 8% of electric power produced in the RF on the whole. The scope of the OAO “Mosenergo” activities puts the company among the world leaders in power production. The company is an organic monopolist of electric power production in the region; it produces 77% of the heat consumed in Moscow. The OAO “Mosenergo” operations provide electricity and heat to 15 mln people of the Moscow Region.

ABB is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in more than 100 countries and employs around 146,000 people.

ABB Group in Russia (www.abb.ru) includes ten companies with own production facilities. ABB Russia employs around 1,000 people. In 2001 the turnover of ABB Group in Russia exceeded US$ 120 million.

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