Fortum and SUENKO joint venture to start for heat supply in Tyumen, Russia in early 2018
FORTUM CORPORATION ONLINE NEWS 24 October 2017Fortum and SUENKO have established a joint venture, JSC Ural-Siberian Heat and Power Company (YUSTEK), for the heat supply in Tyumen, Russia. A memorandum of understanding to look into the possibility of creating a joint venture for the heat supply in Tyumen was signed on 6 March 2017. Fortum will continue as CHP owner and selling heat to YUSTEK. YUSTEK is expected to have a small positive impact for the Russia Division results starting 2018.The newly-established joint venture will consist of 180 heat substations, 5 pumping substations and 45