TGK-1 boosted profits

The TGK-1

Northwest Russian electricity generator TGK-1 in 2009 boosted net profits to 3 billion RUB.


General Director Boris Vaynzikher told journalists that the company, the main electicity generator in Northwest Russia, in 2009 had a net profit of three billion RUB. He also said that the company had invested a total of 19 billion RUB in the course of the year, Regnum reports. TGK-1 is controlled by Gazprom. It owns generating units in Murmansk Oblast, the Republic of Karelia, Leningrad Oblast and the city of St.Petersburg. -In general, last year was a successful one for us, Mr. Vaynzikher told Regnum. Electricity generation was down 0,7 percent in 2009. But hydropower generation was up three percent. In 2010, the company intends to invest a total of 15,9 billion RUB.