Financing of Nizhegorodsky hydrosystem project to be redistributed in favor of NOVATEK’s projects

Finances foreseen by the state programme “Transport System Development” for the project on construction of Nizhegorodsky hydrosystem on the Volga river are planned for redistribution in favor of Novatek’s projects and the “Seaports” federal project. According to the draft decree of the Government published by the federal portal for legal information, a total of RUB 12.544,4 billion allocated for construction of Nizhegorodsky hydrosystem on the Volga river is to be redistributed in 2020 for the federal project “Seaports of Russia” (RUB 3.944,4 billion) and NOVATEK’s projects being implemented by Rosatom corporation under the state programme of the Russian Federation “Development of the nuclear power industry” (RUB 8.6 billion).

In 2021, RUB 5.540,9 billion of RUB 13 billion allocated for the Nizhegorodsky hydrosystem project is to be redirected to the Seaports of Russia project, RUB 7.459,1 billion – to the NOVATEK’s projects.

To ensure financing of the Nizhegorodsky hydrosystem project, RUB 1.125,1 billion of unallocated funds under the federal project “Inland Water Ways” is to be redirected to increase financing of Transport System Development programme in 2020–2024.

The document in Russian is available here >>>>