OREANDA-NEWS. On 15 April 2009 was announced, that in a working meeting held at Fortum’s headquarters, Boris Vainzikher, General Director of TGC-1, and Sergey Redkin, Deputy General Director for Development of TGC-1, spoke with Tapio Kuula, Senior Vice President of Fortum, a member of the Board of Directors of TGC-1. General Director of TGC-1 congratulated Tapio Kuula on the appointment as president and СЕО of Fortum.

In the course of the meeting, the participants discussed a number of key issues related to the development of TGC-1, the Company’s operational performance for the previous year and plans for the year 2009. Special emphasis was placed on the implementation of top-priority projects covered by the Investment Programme, including the progress being made in the implementation of Vuoksinskiye HEPP Cascade refurbishment project and in the construction of the first steam gas turbine at a new power-generating unit of Pervomayskaya CHPP (CHPP-14).

Fortum is a leading energy company focusing on the Nordic countries, Russia and the Baltic Sea area. Activities cover the generation, distribution and sale of electricity and heat and the operation and maintenance of power plants. In 2008, Fortum’s sales totaled EUR5.6 billion, and operating profit was EUR1.96 billion. Fortum’s shares are quoted on NASDAQ OMX Helsinki. In Russia, Fortum was the first foreign strategic investor in the power sector. At the moment, Fortum owns 93.4% in TGC-10 (including the shares owned by TGC-10's fully-owned subsidiary) and maintains an over 25% stake in TGC-1.