OREANDA-NEWS. On 13 August 2008 was announced, that the branch of IJSC Ingosstrakh in St. Petersburg has entered contracts with OJSC Sevzapelectrosetstroy, one of Russia’s largest construction companies, for CAR/EAR insurance of a 500 KV high-voltage line to connect Tikhoretsk and Krymskaya Substation (Krasnodar). The insurance amount is RUR 8,586,633,000.

The insurance contracts cover all risks, therefore providing full-scale insurance against all and any types of damages. The policies provide the widest coverage, including objects in construction at their full (contracted) value, future site clearing expenses and expenses on scrap and debris removal, and stipulate compensation of third-party damages incurred in connection with or as the result of construction or assembling works.

To date, the site designated for the construction of the substation has been cleared, the fencing has been erected, and the foundations for the installation of outdoor switchgear have been completed. The construction and engineering team are currently doing the planning of on-site roads. The checkpoint is underway construction. The 500KV substation is expected to be commissioned at the end of 2009.