The network provider’s management looked into the results of MRSK Urala’s performance in the first half of 2009 during an ad hoc conference coordinated by FINAM Investment Company.

According to MRSK Urala’s Deputy GD for Capital Construction Sergey Semerikov, their investment program for 2009 had to be halved against the figures they had initially set out for.

‘At the end of 2008, we expected to have invested about 7.7 billion RUR in various projects, but now we find we are forced to stick with the modest 2.9 billion RUR. The spending cuts mostly affected the buildings whose commercial importance has diminished since the start of the recession,’ he explained.