General Director of Rosseti, Oleg Budargin and Head of the Republic of Adygea, Aslan Tkhakushinov, signed a Cooperation Agreement under the framework of the International Investment Forum in Sochi from September 18 – 21. The document addresses the organization of cooperation in the development of Adygea’s electric grid complex for the period through 2019.

At the Investment Forum "Sochi 2014", Republic of Adygea has presented ten investment projects totaling $23 billion roubles. This testifies to the growth of the region's attractive investment opportunities. The active development of small and medium-sized businesses and the construction of large industrial and residential projects requires infrastructure, which means - additional electrical power capacity and the reconstruction of the distribution grid complex.

The agreement provides for the solution of a number of important issues for both sides. In particular, improving the functioning and reliability of the Unified national electric grid and the distribution grid complex of the Republic of Adygea, the provision of mutual assistance in disaster management, and consolidation of electrical grid assets.

Among the joint agreements are the implementation of energy conservation measures and raising energy efficiency.

"I am pleased to note that Adygea is developing steadily. A tight economy is fostering the consolidation of efforts to develop more efficient power grid facilities in the region, to improve the reliability and availability of networks for sustainable socio-economic growth of the republic," said Oleg Budargin.

"The favourable geo-economic position, political stability, developing economy, scientific and educational infrastructure, and the favourable resort and recreation zone - all this makes the republic attractive to investors. Therefore, the signing of a cooperation agreement with Rosseti would certainly provide additional impetus for the development of the region," said Aslan Tkhakushinov.

As a reminder, the consensus to sign the agreement was reached during a working meeting held in early 2014, where the authorities of the republic and JSC Rosseti had been discussing the conclusions following the cleanup of the devastation caused by the unprecedented ice storm that hit the districts of Krasnodar Krai and the Republic of Adygea. Plans were outlined to collaborate on the development of the region's electric grid complex, encompassing the construction and reconstruction of the infrastructure of Adygea.