OREANDA-NEWS. September 24, 2007. At a formal meeting of the Board of Directors of JSC OGK-5, Eldar Orudzhev (Deputy Managing Director of BU1 of RAO UES of Russia) was reelected Chairman of the Board. Dominique Fache (Enel’s Country Manager and Chief Operations Officer for Russia and CIS countries) was elected Deputy Chairman of the Board of Directors.

The Board of Directors also elected new Committees of the Board of Directors.

Moreover, the Board of Directors considered a number of internal issues related to the company’s activities. In particular, it considered the issue about the adjustment of the company’s investment programme. The total amount of the investment programme for 2007-2012 is estimated at 75b RUB, 40 of which will be spent on the upgrade of the existing production facilities. The rest will be spent on the construction of new generation facilities at Sredneuralskaya GRES and Nevinnomysskaya GRES, as well as the construction of a new generating facility near the town of Tarko-Sale within the framework of a joint project with OAO NOVATEK. The new construction projects imply commissioning of more than 2,000 MW of new capacity until 2012.