Greek prime minister reshuffles cabinet
Greece’s Prime Minister George Papandreou has considerably overhauled his cabinet. Only the finance minister managed to retain his post. According to analysts, the Greek prime minster undertook such extreme measures to support the stabilization of the situation in the economic and social spheres, and to appease voters who are angry about the introduction of an austerity program. Emergency measures to rescue the economy include a planned reduction of social security expenses, defense spending cuts, a salary freeze in the budget sector, and shutting down a third of the overseas divisions of the Greek tourism department.
Germany extends its plants’ lifespans
The German government has abandoned the previous cabinet’s plans to shut down the nation’s nuclear power stations by 2021, and decided to use them until 2030. 17 nuclear power plants are currently in operation in Germany. The oldest of them will now exceed their planned lifespans by eight years, while the newer stations will be able to produce electricity for 14 years after their initially planned lifetime’s end. The decision was taken after a cabinet meeting that lasted until late evening on Sunday. The German cabinet also decided that companies supplying electricity to the population must pay a special environmental tax, which will help direct 3 billion dollars per year into renewable energy development. According to the German Chancellor Angela Merkel, it is too early to abandon nuclear energy, because renewable energy is currently insufficient for the country’s needs.
Cherkasy to host a French office equipment factory
Come October, RACEC Group, Ltd. (France) will launch an office equipment production line in Cherkasy, Mayor Serhii Odarych told at a press conference: “This is Europe’s largest company specializing in office equipment and commercial premises. As I address you, a new office equipment production line is being installed on the premises of the Khimvolokno [Synthetic Fiber Works].” The Cherkasy mayor added that the construction project was under his personal supervision. By Viktoria KOBYLIATSKA, Cherkasy
Ukrhidroenerho borrows 800 million hryvnias for the construction of Dnistrovsk Storage Plant
Ukrhidroenerho PC (Vyshgorod, Kyiv region) will receive 800 million hryvnias from Nadra bank, owing to which they were able to hold the negotiations. According to the announcement published on the Ministry of the Economy’s website regarding the invitation of only one participant for the bidding, the rate of interest will be 18 percent. They plan to receive the loan in 2010-15. Let us remind that earlier Semen Potashnyk, an Ukrhidroenerho chairman of the board, declared their intention of obtaining 800 million hryvnias from Ukrainian banks for the first stage of construction of the Dnistrovsk Storage Plant, which consists of three hydraulic units.
It is being built in Chernivtsi region on the Dnister river. Its capacity is to be 2,268 megawatts, and the normal pump operation capacity – 2,947 megawatts.
