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Construction of two hydro power plants starts in Karelia

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Construction of two hydro power plants starts in Karelia

Soon the construction works of two hydro power plants will start in the Kemsky District of the Republic of Karelia, the region located in the northwest of Russia.

This is what the president of the Council of Directors of Nordhydro JSCo, Mikhail Zavorovsky, said at a meeting with Head of the Republic of Karelia, Alexander Khudilaynen, held on the 18th of July.

According to him, 450 specialists from local contracting organizations will be involved in the construction works.

Building of “Beloporozhskaya-1” and “Beloporozhskaya-2” HPP will be financed by the BRICS bank, on application of the Russian Federation. Moreover, Eurasian Development Bank and International Investmant6 bank will be financial partners of the project, whereas large Chinese company, Gezhouba Group, and the Russian Direct Investments Fund will be co-investors.

The total amount of investments in Karelia’s water power engineering will be 10 bln roubles.

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