FORTUM CORPORATION ONLINE NEWS 24 October 2017
Fortum and SUENKO have established a joint venture, JSC Ural-Siberian Heat and Power Company (YUSTEK), for the heat supply in Tyumen, Russia. A memorandum of understanding to look into the possibility of creating a joint venture for the heat supply in Tyumen was signed on 6 March 2017. Fortum will continue as CHP owner and selling heat to YUSTEK. YUSTEK is expected to have a small positive impact for the Russia Division results starting 2018.
The newly-established joint venture will consist of 180 heat substations, 5 pumping substations and 45 local boiler houses. The new heat system operator will lease and maintain 775 km of heat pipelines and employ around 1,000 specialists. YUSTEK is led by Alexander Perekalskiy, who has formerly worked for Fortum as manager of the heat networks in Tyumen.
“We believe that the knowledge and expertise of two big companies will allow us to create one of the most efficient and advanced heat systems in Russia, where heat customers are peers and partners”, says Parviz Abdushukurov, VP Heat Business, Fortum Russia.
YUSTEK is expected to start its full-scale operations in early 2018.