OREANDA-NEWS. Valentina Matvyenko, Governor of Saint Petersburg, and  Andrey Rappoport, Chairman of the Board of OJSC “FNC UES”, signed the protocol on creation of a joint electric power network company on the territory of Saint Petersburg by realization of the additional issue of shares of OJSC “Lenenergo” in favor of the city.

Payment of shares will be carried out by property or money. As a result, OJSC “Lenenergo” will include all electric power network assets of the city.

Besides, the authorized capital of the company will get the substations, which are planned to be constructed due to means of the Saint Petersburg budget for 2007 and the first quarter of 2008.

The amount of money invested by Saint Petersburg as payment of shares of OJSC “Lenenergo” will be determined after the independent assessment of shares and the property planned to be a payment of the additional issue, and would made approximately 3 billion roubles at least.