MOSCOW, June 30 (RIA Novosti) - Russia's...
and the country would face without the reform," Chubais said.He added that such a crisis would hamper the country's economic growth and pose serious social and political risks.
Meanwhile, Russian and foreign direct investment in the country's generating companies' assets reached 945 billion rubles ($40 billion) over the past 18 months, Chubais said.
"A detailed investment program has been drafted as a suitable response to the growing electricity demand for 2008-2012. Under the document, 4.3 trillion rubles ($183 billion) will be invested in the sector's development, including 1.8 trillion rubles ($76.6 billion) in the construction of power plants with a total capacity of 43,000 MW," Chubais said.
In the longer term, an additional 20 trillion rubles ($852.5 billion) will be required by 2020 for the construction of power facilities, Prime Minister Putin has said, adding that the bulk of the funds would come from extra-budgetary sources.