OREANDA-NEWS  On 18 September was announced, that a regular meeting of the Board of Directors of JSC First Power Generating Company on the Wholesale Energy Market (OGK-1) (MICEX: OGK1) was held on August 28, 2008. During the Board meeting a number of corporate documents were approved and current issues were given consideration.

Specifically, the conclusion of the contract on JSC NVGRES Holding Limited joining a previously signed contract on the JV (Joint Venture) founding by OGK-1 and THK-BP in the framework of new manufacturing facilities construction at Nizhnevartovskaya GRES was approved.

Besides, the Board of Directors approved “The Provision on Company Insurance” and “JSC OGK-1 Risk Management Policy” and amended “The Provision on Company Internal Audit Department”.

The report of OGK-1 General Director on the implementation of a comprehensive yearly purchase program for the 6 months of the year 2008 was considered during the meeting. The Board of Directors made a decision to acknowledge the implementation of a comprehensive yearly purchase program as satisfactory basing on the results of the 6 months of the year 2008.