RusHydro consolidates hydro engineering subsidiaries

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JSC RusHydro's Vladimir Pekhtin, Deputy Chairman of the Management Board, has been appointed General Director of JSC Institute Hydroproject and JSC Lenhydroproject as the Russian utility and hydropower project works to consolidate its hydro engineering operations.

The RusHydro (LSE: HYDR) Board of Directors first announced it was looking at unifying several subsidiaries this past February given they "have similar capabilities and functions that often overlap".

The company said Institute Hydroproject and Lenhydroproject have more expertise in developing comprehensive and complex hydro engineering projects, while its Mesoblhydroproject specializes more in small and medium sized projects.

"The consolidation aims to improve the efficiency of a project complex and increase the total economic effect through better usage and planning of hydro engineering resources," RusHydro said in a release.

RusHydro's other hydro engineering operations currently include JSC Vedeneev VNIIG and JSC NIIES.

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