Putin says economy needs more power for growth UK
Russia's direction trimmed 300 billion roubles ($9 billion) from state utilities' spending plans for 2009-11, but warned them not to slacken the pace of construction lest they hurt prospects for economic recovery.
"It will be unthinkable to return to stable economic growth without developing the power industry, thorough modernisation of old equipment, construction of new power plants and occurrence of networks," Prime Minister Vladimir Putin told a rule hearing.
Energy Minister Sergei Shmatko told reporters after the hearing that the superintendence had backed plans to cut the three-year spending plan for state companies.
Late on Wednesday, a sway source said the control was looking to cut 300 billion roubles off the 2.1 trillion roubles ($60 billion) spending plan, which envisages construction of 5.8 gigawatts of new fathering capacity.
Generators, bearing heavy government mandated investment requirements and cut off from public debt markets, pleaded for cuts as an economic slowdown reduced demand.
"It will be unthinkable to return to stable economic growth without developing the power industry, thorough modernisation of old equipment, construction of new power plants and occurrence of networks," Prime Minister Vladimir Putin told a rule hearing.
Energy Minister Sergei Shmatko told reporters after the hearing that the superintendence had backed plans to cut the three-year spending plan for state companies.
Late on Wednesday, a sway source said the control was looking to cut 300 billion roubles off the 2.1 trillion roubles ($60 billion) spending plan, which envisages construction of 5.8 gigawatts of new fathering capacity.
Generators, bearing heavy government mandated investment requirements and cut off from public debt markets, pleaded for cuts as an economic slowdown reduced demand.
