Russia's Federal Grid Company announces investment plans

Russia's Federal Grid Company is planning to triple investment in the country's electricity network over the next decade. The news came at a press conference on Tuesday, outlining the company's development plans until 2010.

The investment will focus on modernising the grid's infrastructure, and increasing capacity.

Company Director Alexey Maslov says the investment will be financed in part from proceeds of RAO UES share issues. The rest will come from the company's own resources, and the Federal budget.