Russian tycoon allegedly to invest in Montenegro's power sector.

By bne IntelliNews April 18, 2011
Russian tycoon Oleg Deripaska is considering investing in Montenegro's power sector, newswire seebiz.eu reported. We note that the Russian En+ Group, controlled by Deripaska, acquired a majority stake in aluminium smelter KAP for EUR 48.5mn in 2005. KAP is the biggest electricity consumer in the country. According to the purchase agreement the government would subsidise the electricity price for the company by 2012. Deripaska took part in the competition for the Montenegrin thermo power plant Pljevlja in 2006-2007, but the deal, which was almost finalised was unexpectedly suspended by the government.

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