Power Machines Holds Extraordinary Meeting of Shareholders

MOSCOW – Power Machines OJSC (RTS: SILM), Russia's leading manufacturer and equipment supplier for hydroelectric, steam, gas and nuclear generation plants, reports that it held an extraordinary meeting of shareholders on 20 April.

The shareholders approved a number of interested-party transactions including a contract with TGK-1 OJSC for the reconstruction of the cascade for two Vuoksa hydroelectric power plants (Svetogorskaya HPP-11 and Lesogorskaya HPP-10), and contracts with OGK-3 OJSC to supply electrical equipment for the Cherepetskaya and Kharanorskaya State Regional Electric Power Plants. 

For the construction of two power units at Cherepetskaya State Regional Electric Power Plant providing installation of two boilers with circulating boiling layer, Power Machines is to supply two steam turbines, two generators, two condensers and two heaters.

For the construction of a power unit with 225 Megawatt capacity with coal-fired boiler at Kharanorskaya State Regional Electric Power Plant, the company is to supply a steam turbine, generator, condenser and two heaters.

The contract for the reconstruction of the cascade at the Vuoksa plants provides for replacement of four units at Lesogorskaya HPP-10 (with each unit’s capacity to be increased from 23.5 to 30.5 Megawatts) and three units at Svetogorskaya HPP-11 (with each unit’s capacity to be raised from 23.5 to 29.5 Megawatts).