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. Last Updated: 07/27/2016

Ex-UES Execs Plan $10Bln Power Fund

Leonid Melamed and Dmitry Zhurba plan to raise as much as $10 billion to invest in Russian electricity assets by 2010, Kommersant said Wednesday.

The partners, former executives at national power utility Unified Energy System, plan to invest $2.5 billion this year, the newspaper said, citing the head of their Rusenergoinvest Group fund, Anastasia Zoteyeva.

The fund, which has an initial capital of $50 million, currently employs 25 people, some of whom have been recruited from UralSib, Evraz Group and the Finance Ministry, Zoteyeva said.

Rusenergoinvest is in talks with investment funds and strategic investors with interests in the energy sector, she said.

Among the projects being studied are the construction of four new power stations in the south and northwest of the country, she said, the newspaper reported. (Bloomberg, MT)