Putin calls for 50% increase in power generating capacity

Russian President Vladimir Putin has stressed the country will have to increase its power generating capacity by 50% over the next decade to achieve a doubling of GDP by 2016.

However, a big part of achieving that goal depends on reforming the country's ailing power sector.

Speaking in St Petersburg, Putin said his government is planning to make significant investments into the power sector. Nevertheless he indicated that investment alone won't be enough to give the sector the boost it needs. But he said the government will submit a detailed action plan within the next few days.