OREANDA-NEWS. November 21, 2007. JSC OGK-5 and the European Bank of Reconstruction and Development signed an Agreement of Mandate on funding of a new CCGT-410MW construction project to be implemented at Nevinnomysskaya GRES as well as the Program for modernization, upgrade and renovation of the existing facilities.

In accordance with the Agreement, the European Bank of Reconstruction and Development confirms its interest in organization of a syndicated loan for JSC OGK-5 for the amount of up to 9 billion rubles for implementation of the Company’s investment program.

It is assumed that the loan term may be equal to 15 years with a three-year drawdown period.

The present Agreement forms the basis for the project’s financing to be initiated upon a detailed evaluation of the program by the bank representatives.

Mikhail Krupin, the First Deputy General Director said noted in the course of signing that successful cooperation with the European Bank of Reconstruction and Development forms a firm basis for effective implementation of OGK-5 ambitious Investment Program.