Rosenergoatom to repay $22m to RAO UES of Russia

Rosenergoatom will pay in the near future RUR700m (around $22.22m) to RAO UES of Russia to offset its loan, the Mass Media Department of RAO UES of Russia reported to RBC. As it was reported earlier, in 2001 RAO UES of Russia granted an interest-free credit of RUR4.5bn (around $142m) to Rosenergoatom in line with the transaction of repaying the Russian-Czech state debt. According to the loan repayment schedule, Rosenergoatom was supposed to pay RAO UES of Russia RUR2.1bn (around $66m) by July 2002, but in fact, only RUR1.4bn (around $44m) were paid at the beginning of last month. RAO UES of Russia filed suit in an attempt to render the loan agreement null and void, but after negotiations with Russian Minister of Atomic Energy Alexander Rumyantsev the suit was withdrawn, while the loan repayment schedule was updated. According to the updated schedule, Rosenergoatom will repay RUR700m (around $22.22m) - the amount it failed to pay in due time - in the next few months.

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&to=http://www.rao-ees.ru/en' target=_blank>RAO UES