OREANDA-NEWS. The Board of Directors also noted the report on the distribution of the funds received by RAO "UES of Russia" from the sale of its shareholdings in OAO "Taymyrenergo" and OAO "Yaroslavl Retail Company".

According to the report, the RUB7.7 billion received from the sale of shares in the companies, less all required taxes and other payments, as well as appraisal and auction costs were used to finance the investment programmes of RAO "UES of Russia", namely, the project of the Boguchansk Energy and Metallurgical Association**, by contributing RUB5.13 billion (USD190 million) in funds to the capital of OAO "HydroWGC"; the preparation of feasibility studies and audits of six projects within the framework of the guaranteed investment mechanism, and the activities relating to the reorganization of the Parent Company, RAO "UES of Russia".