Gazprom plans to unite its construction companies

Gazprom plans to consolidate all assets of its construction companies intoa single company that will compete with Stroytransgaz, Boris Fyodorov,member of Gazprom's board of directors was quoted by a representative ofUFG as saying in a phone conference with the gas giant's foreign partnerson August 20, 2002. According to Fyodorov, Dmitry Medvedev, deputy head ofthe Russian President's Administration and chairman of the gas holding'sboard of directors, proposed Gazprom's executives unite the twoconstruction companies of the holding by 2005. Gazprom's managers specifiedthat currently only 20 percent of the giant's construction companies wereready to consolidate into a single company and this process could becompleted only by 2009. Fyodorov noted that managers had asked for a onemonth period to thoroughly elaborate on this question. As it was reportedearlier, Gazprom's CEO Alexey Miller announced the creation of a singleconstruction company on the basis of assets of the Gazpromstroyengineeringcompany. .

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