Company briefs - 2007-11-14

  • 2007-11-14
Ignalina Nuclear Power Plant resumed power generation on Nov. 12 after a temporary closure triggered by automatic gear on Nov. 8, forcing Lithuania to import electricity from Russia and Latvia. The reserve capacities of Kruonis hydro pump storage power plant were also employed, and the Elektrenai power plant also boosted output. The plant will lose some 4 million litas (1.1 million euros) as a result of unit stoppage, officials said.

A large holiday complex may be built at Pillapalu near Tallinn, in the next few years with Timur Kulibaev, son-in-law of Kazakh President Nursultan Nazarbayev, acting as main investor, Eesti Ekspress reported. The 300 - 400 million euro resort would ostensibly cover 90 hectares and feature luxury terraces, seven hotels, sports complexes, a shopping and aquatic center, a large casino, golf courses and nature trails. The project leader is Alexander Goldman, who has been involved in the construction of resorts in South Africa and Kazakhstan. Kulibaev is one of the richest and most influential oligarchs in Kazakhstan, and his name can be found in the Forbes billionaire list, the paper wrote. Kulibaev's link with Estonia is his business partner Mirbulat Abuov, who has represented the Kazakh president's family in several business ventures.

Mazeikiu Nafta is refusing to say when the technical overhaul at the refinery will be completed. "The company is making active preparations to resume the production; however, we still cannot specify the precise date," Rosvaldas Gorbaciovas, Mazeikiu Nafta's spokesman, told the Baltic News Service. In the beginning of November the refinery announced it was carrying out the final works and was inspecting the installations, while Economy Minister Vytas Navickas said the refinery might resume the production this week. The overhaul, launched on Sept. 22, was supposed to be completed in a month and a half.