Evraz increases its stake in West Siberian Heat and Power Plant to 100%
January 25, 2008 - Evraz Group (LSE: EVR) announces that Evraz Group through its subsidiary has completed the buyout of all outstanding common stock of West Siberian Heat and Power Plant (“ZapSibTETs” or “Plant”). The procedure was carried out in accordance with the Russian legislation through mandatory offers to all minority shareholders. As a result of the buyout, ZapSibTETs has become Evraz’s wholly owned subsidiary.
The Plant has a nominal capacity of 1,307 Gcal/hour of heat and 600 MW of electricity. Heat and electricity are mainly consumed by ZSMK, one of Evraz’s steel mills in Russia.
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