“The principle, the anchor investor is Rosneftegaz. The overall volume of investment is currently being detailed…taking into account rises in price, currency exchange, and the inflation processes, the amount will be adjusted. It was earlier estimated to be around 50 billion rubles ($1 million),” Novak told journalists.
The minister added a joint Rosneftegaz-Inter RAO company had been set up to improve the dependability of power supplies in Russia's westernmost region on the border with Poland and Lithuania.
The joint project plans to construct three natural gas plants and one coal plant in Kaliningrad Region to support the existing four thermal power plants, one high-power condenser type thermal power station and two smaller hydroelectric stations.
The energy company Inter RAO estimates the 1,000 megawatt generating systems would cost $1.38 billion, with generating facilities alone exceeding the $1 billion mark.
