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IDGC of Siberia's $23.53mln suit against Rusal to be heard March 21

14:50 05/03/2012

KRASNOYARSK, March 5 - RAPSI. A commercial court will hear on March 21 the Interregional Distributive Grid Company of Siberia's (IDGC of Siberia) lawsuit against Rusal Krasnoyarsk Aluminum Smelter for $23.53 million, according to the court materials.

IDGC of Siberia intends to recover through the commercial court 689.642 million rubles ($23.53 million) in unjust enrichment for electricity provided in January 2012 and interest for using someone elses funds amounting to 1.529 million rubles ($52,190), the court materials read.

The lawsuit was submitted to the court on March. IDGC of Siberia has not yet commented on the situation.

It was reported earlier that in 2010 the Ninth Commercial Court of Appeals obligated Federal Grid Company of Unified Energy System (FGC UES) to conclude a contract with Krasnoyarsk Aluminum Smelter on the provision of electricity from January 1, 2010.

The court confirmed that FGC UES, rather than IDGC of Siberia, started providing electricity to the smelter in early 2010.

In September 2009, Rusal Aluminum Business Director Alexei Arnautov said the smelter will pay FGC UES for the electricity consumed, omitting IDGC Siberias mediation services.

IDGC is engaged in network power transmission across Russia and services an area of 1.856 million square kilometers.

Rusal is a leading global aluminium producer. It accounts for roughly 10 percent of the world's aluminum production.

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IDGC of Siberia's $23.53mln suit against Rusal to be heard March 21

14:50 05/03/2012 A commercial court will hear on March 21 the Interregional Distributive Grid Company of Siberia's (IDGC of Siberia) lawsuit against Rusal Krasnoyarsk Aluminum Smelter for $23.53 million.
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