Business news from Ukraine

Ukrenergo starts working under FIDIC contracts to buy electric equipment, design projects

11 September , 2017  

KYIV. Sept 11 (Interfax-Ukraine) – National energy company Ukrenergo starts working under the FIDIC Yellow book contracts, which take into account the specifics of national legislation and the specifics of each facility when using the multi-level financing system that will ensure high-tech level of works with observation of terms.
“Work under typical FIDIC contracts shows that our facilities will meet global quality standards from technological point of view. This is also one of the elements of the new investment policy of the company aimed at improving organization approaches to construction,” the press service said, citing Director for Investment and Strategy Volodymyr Kudrytsky.
The Yellow book is contracts of the International Federation of Consulting Engineers (FIDIC) applied in international practice in supplies and assembly of electrical equipment, designing projects, construction and engineer works.
Ukrenergo operates trunk and interstate power transmission lines and provides centralized oversight of the integrated power grids. It is a state company run by the Energy and Coal Industry Ministry.