Eastern Economic Forum

6 Sep 2024, 10:59

Rosseti Group’s investment to grow by 20% in 2024

CEO Andrey Ryumin said in February that the approved volume of financing of the group’s investment program in 2024 totaled $6.5 bln

VLADIVOSTOK, September 6. /TASS/. Investments of the Russian grid company Rosseti are expected to grow by 20% in 2024 compared with last year, Chief Executive Officer Andrey Ryumin said in an interview with TASS at the Eastern Economic Forum (EEF), adding that next year investments are also expected to rise.

"Results will definitely be higher than last year and still higher in 2025. It is safe to say that growth is registered each year. Last year investments exceeded 530 bln rubles ($5.9 bln) while this year we expect a 20% increase compared with last year," he said, adding that the company had presented an adjusted investment program suggesting this investment growth to the Energy Ministry.

That said, 40% of investments in the trunk line complex in 2024-2029 is planned to be injected in the Far East, CEO noted.

Ryumin said in February that the approved volume of financing of the group’s investment program in 2024 totaled 585 bln rubles ($6.5 bln).

The Eastern Economic Forum is underway on the campus of the Far Eastern Federal University in Vladivostok. The main theme of the EEF this year is ‘Far East 2030. Combining strengths to create new potential’. Business activities are broken down into seven thematic blocks: ‘New contours of international cooperation’, ‘Technologies to ensure independence’, ‘Financial value system’, ‘the Russian Far East’, ‘People, education and patriotism’, ‘Transport and logistics: new routes’, and ‘Master plans: from architecture to economy’. The Roscongress Foundation is the Forum’s organizer. TASS is the general information partner of the EEF.

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