A resolution adopted by the HydroOGK board of directors said the company would spend most of the money on the Volga-Kama chain of hydroelectric power plants (HPPs). The resolution also includes a program to modernize HydroOGK's HPPs in 2006-2010 and a long-range plan up to 2020.
The company said it would spend more than 6 billion rubles (more than $215 million) to upgrade its hydroelectric facilities in 2006.
An investment plan for 2006 adopted Monday said investments would go into completing construction of the Bureya HPP in the Far East, the Irgana HPP in the North Caucasus, and the Boguchany HPP in Siberia, as well as build a coastal discharge gate at the Sayano-Shushenskaya HPP in Eastern Siberia.
The company will also spend about $25 million on building small hydroelectric power plants in the North Caucasus.
Established in December 2004, HydroOGK holds 15 stakes in Russian HPPs, or half of the country's total hydroelectric resources.
