The Russian owner of the Schastyinskaya Thermal Power Plant has closed its office in Donetsk
Alexey Mordashov’s company closed its representative office in Donetsk due to the high risks of doing business. Experts interviewed Izvestia, believe that the departure of Power Machines from Ukraine is associated with the threat of sanctions and nationalization of Russian assets by Kiev.
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In Donetsk, employees of a Russian company served a project to modernize the steam turbines of the Lugansk Thermal Power Plant, which is part of the DTEK energy holding of the Ukrainian oligarch Rinat Akhmetov. Power Machines and DTEK Vostokenergo signed a contract in May 2012. A representative office was opened at the same time. Work under the contract was planned to be completed in 2014.
The station is located in the city of Shchastya, which is today controlled by the forces of the National Guard of Ukraine. As of the end of May, two power units (262 MW) are operating at the thermal power plant.
Power Machines, which in particular supplies equipment for power units of Ukrainian nuclear power plants, has already closed its representative office in Ukraine: in 2008, the company closed its representative office in Kyiv.
Experts interviewed by Izvestia believe that the departure of Power Machines from Ukraine is associated with a high risk of problems in the company’s relations with its key partners in the West. Ukraine is also going to demand compensation from Russia for Crimea, while the Ukrainian authorities are considering the possibility of arresting not only Russian state property, but also the assets of Russian companies.
Mordashov has an excellent instinct: he began to wind down his business in Ukraine back in 2008.
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