GT-TET Energo " has interested investors
They are ready to become minority shareholders of the company engaged in construction and operation of a central heat and power plant network.
The arrogant project of group " Energomash " on construction of 1 thousand gas turbine power stations across all Russia causes not only criticism, but also interest of investment community. As Alexey Pleshchev has told RBC.
"Energomash Corporation", one of the Russian investment companies has suggested group to sell to it(her) minority a package
of Open Society " GT-TET Energo " under the price, " much company exceeding today's potential ". However, to hurry up in
"Energomash" are not going: in some years the group is going to lead(carry out) IPO the company, and in the long term
estimates its(her) cost in some billions dollars. In "Energomash" did not begin to open parameters of the offer and the name
of the investment company which have made it(him), but, under information RBC daily, with the initiative has acted " Antanta
the Capital ".
Open Society " GT-TET Energo " - the special company created in 2001 for realization of the project on construction in 1
thousand of power units GTU by capacity 9 ??? everyone. In 2004 on seven working blocks it has been made 139,4 million kw -
hour electric and almost by 9 thousand. Gkal thermal energy. The proceeds of the company for this period have made 122,4
million roubles, net profit - 5 million roubles. British firm Energomash (UK) Ltd., group " Energomash " supervising all
actives, posesses 100 % of actions(shares) " GT-TET Energo ". Besides " GT-TET Energo " in group " Energomash " enter OJSC
"Belenergomash", "Perlovsk power equipment plant", "OJSC "Atommash"", "Sibenergomash", "Uralelectrotyazhmash",Uralhydromash, EMC-steel-work plant and also company " Chehovsk power engineering plant". On results of 2004 the consolidated proceeds of group have made 480 million dollars, net profit - 8,2 million dollars.
Control packages of all enterprises (except for "Chehovsk power engineering plant") British firm Energomash (UK) Ltd owns., 90 which % of actions(shares) belong to general director "Energomash Corporation" Alexander Stepanovu, and 10 % - it(him) ???? to Alexey Pleshchevu.
Still recently the civil-engineering design of a network from 1 thousand thermal power station of the low
power, sold since 2001 group " Energomash ", caused many questions and censures. But with start-up of the first stations in
commercial operation and occurrence of "long" money of the Savings Bank of the Russian Federation on realization of the
project scepticism started to be replaced by alive interest. As Alexey Pleshchev has told RBC daily General Director of
"Energomash Corporation" (see interview on site RBC daily), group has acted(arrived) the offer from one investment company
which has wished to become (part of an investors portfolio) " GT-TET Energo ", having suggested to redeem a small share holding " under the price much more(much) exceeding today's potential of the company ". As he said, the offer of investors
interestingly, but they want to buy a small package " on a portfolio ", that is simply to enclose money under the future
growth of the company. " It not the output(exit) on publicity ", - believes General Director of "Energomash Corporation".
Alexey Pleshchev did not begin to open parameters of the offer and the name of the investment company which have made
it(him), and also decisions "Energomash". At group, it(he) has told, there are plans sooner or later to make " GT-TET Energo
" the public company. " But to make IPO the companies, it is necessary to make the company ", - Mr. Pleshchev speaks. As he
said, accommodation of actions(shares) of the company "in a large way" is possible not earlier 2007 " this year we plan to
enter from 40 up to 50 blocks, to the middle of 2007 will be about 100 blocks, - representative "Energomash" tells. - Then it
will be clear, that the company has passed from a stage of "construction" to a stage " constructions and operation ". It(she)
will have actives (not less than 600 million dollars), the proceeds, profit ".
Under information RBC daily, with the offer on purchase of a share in " GT-TET Energo " in "Energomash" has left " ???????
the Capital ". The president of the investment company Sergey Aleksashenko did not begin to confirm and deny the given
information. " We do not make comments on the uncompleted transactions and the actions concerning our clients ", - it(he) has
declared RBC daily. Meanwhile analyst Ilya Makarov on the last Tuesday has estimated
(construction?) cost " GT-TET Energo " in 348 million dollars, than astonishing among the colleagues. The part from them has
considered with the big doubt to that the company with the current proceeds in 4,5 million dollars and even fine prospects
can cost so much.
Irina Lozhkina, analyst ?? "Prospectus", was at a loss to estimate the current cost " GT-TET Energo ", but has advised
"Energomash" to not hurry up with sale minoritarnogo a package of the company. " If with realization of the project all will
be good, in some years the company will cost a little ??? millions dollars, that, undoubtedly, much above the current market
estimations ", - she(it) has declared RBC daily. Alexey Pleshchev is more optimistical. " After all one thousand blocks will
be constructed and started in commercial operation, the company (group " Energomash " - RBC daily) will cost a minimum 6
billion dollars ", - it(he) has declared the newspaper.
Department of the companies
Vladislav Seryogin, 06.04.2005
Translated from Energomash website |
