OJSC "Power Machines" equipped hydro power plant for OJSC "Polyus Zoloto" in the Krasnoyarsk Territory

The last third power unit for heat-electric generating plant (HEGP) (cogeneration plant (CGP)) equipped with power generating equipment manufactured by OJSC “Power Machines” has been commissioned at “Olimpiadinsky” Ore Mining and Processing Enterprise (GOK) of ZAO “Polyus” (OJSC “Polyus Zoloto” group member-company).

OJSC “Power Machines” has supplied for the HEGP three TAP-6 type 6 MW turbogenerators and excitation systems thereto manufactured by Electrosila branch, and turbines manufactured by Kaluga Turbine Works, and also carried out erection, adjustment and start-up works. The first two power units were put into operation at the end of December last year.

ZAO “Polyus” decided to build its own power plant due to its demand for continuous no-failure electric power supply. Since the “Olimpiadinsky” GOK production facilities are located in the mountainous area and are fed with power from external networks any failure in their operation may result in the technological production cycle failure. Therefore, in case of emergency the HEGP is expected to take up the load and thereby contribute in the continuous no-failure operation of the company.

This is not the first time OJSC “Power Machines” supplies equipment to ZAO “Polyus.” Several years ago the company manufactured and supplied engines, excitation systems and a starting unit for ZAO “Polyus” mill-plants. The equipment showed good performance what inspired ZAO “Polyus” to order from OJSC “Power Machines” the equipment not only for its new mills but also for the HEGP currently being built.

OJSC “Polyus Zoloto” is the leading Russian manufacturer of gold and one of the largest gold extraction companies of the world based on its stock and output volumes. OJSC “Polyus Zoloto” conducts gold extraction and surveying in the ore and gravel deposits located in Kransoyarsk Territory, Irkutskaya, Magadanskaya and Amurskaya Region as well as in the Republic of Sakha (Yakutia). More than 14.000 employees are currently employed by the company enterprises in these regions. In 2006 the OJSC “Polyus Zoloto” group companies produced approximately 37.8 t or 1.2 million Troy oz of gold. OJSC “Polyus Zoloto” shares are traded in the leading exchange systems in Russia – the Russian Trading System (RTS) and the Moscow Interbank Currency Exchange (MMVB). The company ADRs are traded at the London Stock Exchange (UK) system as well as in the US secondary market. In February 2007 the market value of OJSC “Polyus Zoloto” amounted to approximately 9.5 billion US dollars