ST. PETERSBURG TO PARTICIPATE IN CONSTRUCTION OF POWER PLANTS IN KYRGYZSTAN

ST. PETERSBURG, November 13 (RIA Novosti's Anna Novak) - "We have discussed the expansion of economic cooperation, in particular, the prospects of the construction of electric power plants in Kyrgyzstan. Our companies and design institutes will participate in the updating of the project and equipment deliveries," St. Petersburg governor Valentina Matviyenko told journalists on Saturday following the meeting with Kyrgyzstan's President Askar Akayev.

According to her, orders on the equipment for power plants worth $1 billion will be placed on St. Petersburg's companies.

On his part, Mr. Akayev said that the project of the construction of the two largest electric power plants in Central Asia would need $1.5 billion investments.

"Today we have a possibility to find these resources. We launch the construction of the two electric power plants in 2005. It means that in the next 7-10 years the volume of St. Petersburg-Kyrgyzstan cooperation will be measured at billions of dollars of orders on the production of turbines and generators for these major power plants," the Kyrgyz President said.

Moreover, the sides discussed the formation of a joint St. Petersburg-Kyrgyzstan commission to outline the practical plan of the implementation of the cooperation agreement between St. Petersburg and Kyrgyzstan signed in February 2004, the noted.