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The Governor and the Government of the Chelyabinsk region

The Governor of the Chelyabinsk Region and Fortum Corporation President Held a Work Meeting

November 13, 2015

Boris Dubrovskiy and Pekka Lundmark discussed the prospects of further mutually beneficial cooperation of the Chelyabinsk region and Fortum Corporation.

This is the first meeting of Boris Dubrovskiy and Pekka Lundmark, who took up the duties of President and Chief Executive Officer of Fortum Corporation two months ago. Also, among the participants of the conversation were Alexander Chuvaev, Executive Vice President, head of Russia Division, General Director of OAO Fortum, Alexey Doronin, Vice President, Regional Executive Director – Branch Director of Ural Power System, OAO Fortum, Sergey Komyakov, First Deputy Governor, Sergey Shal and Ruslan Gattarov, Vice Governors and Evgeniy Teftelev, Mayor of Chelyabinsk.

The Governor thanked the guests for the visit to the region and remarked that mutually beneficial cooperation of the Chelyabinsk region and Fortum Corporation had been successfully developing for many years. «For our region with traditionally high power consumption it is important to strengthen links with your company - large investor and serious social partner», said Boris Dubrovskiy. «We welcome your investment projects at the territory of South Ural and always find mutually beneficial solutions. We rely on further active participation of your company in Chelyabinsk heat supply system upgrade project and in other geographic areas, as well as in other large-scale projects.»

In his turn, Mr. Lundmark remarked that Russia is the main focus of Fortum Corporation investment activity: in recent years, investments amounted to about 4 bln euro. «And Chelyabinsk is a significant part of our program», he emphasized. «Our main objective is the completion of the current investment program in the region, and after that we will carefully examine regulatory changes. On this basis, we will take a decision on further investments in the Chelyabinsk region.»

During the conversation, the parties discussed a wide range of questions, including organization and conduction of the International Energy Forum in Chelyabinsk scheduled for summer 2016.

For reference:

Fortum Corporation specializes in effective electric and heat power generation without carbon dioxide emissions. Also, the company offers supplementary products and expert services in power engineering for power generating companies. The key Fortum presence regions are Northern European countries and the Baltic states, Russia and Poland. In 2014, sales volume of the corporation (excluding sold electric grid business) amounted to 4.1 bln euro.

The corporation owns 94.88% of shares of OAO Fortum. Also, in Russia Fortum owns ~ 29.5% of shares of OAO TGK-1. In Fortum Corporation business structure, assets of OAO Fortum and OAO TGK-1 are located in Russia Division.

JSC Fortum is territorial-level power generating company. Plant assets and company operations are focused in the Ural region and in Western Siberia. At present, cumulative installed generating capacity of branches, subsidiary and affiliated companies of the corporation is 4,620.14 MW of electrical energy and 12,754.0 MW of heat energy. As a result of the implementation of the investment program, it is expected that electrical energy generating capacity will be increased up to ~5,200 MW by the end of 2015.

Created: November 13, 2015

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