OREANDA-NEWS. August 23, 2007. This year the leasing portfolio of JSC IDGC of Center will be increased by 161% in comparison with 2006. The leasing program will amount to 1,75 billion rubles in 2007, reported the press-centre of JSC “IDGC of the Center”.

“Leasing is one of the most prospective forms of borrowed funds for the renewal of basic production assets”, says Vladimir Bykov, Head of Purchasing of Investment and Maintenance Department of JSC IDGC of Center. “Leasing assumes crediting without demanding immediate payments. This allows to renew production assets and purchase expensive equipment without financial strain. With an ordinary loan for equipment purchasing a company pays a supplier its full cost, books the property on its balance, pays assets tax, depreciates it in accordance with the established procedure, and apart of repaying of the loan it carries the interest as well”.

At the moment the grid companies of the JSC IDGC of Center service area have signed over 500 leasing contracts mainly on procurement of vehicles, electric and special equipment.