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Ukraine: Lazarenko Signs Deal With Canadian Power Company

Calgary, 16 June 1997 (RFE/RL) - Ukraine's Prime Minister Pavlo Lazarenko has signed a joint venture agreement with a Canadian company to modernize and enlarge a power plant near Kyiv.

The agreement was signed yesterday in the southwestern Canadian city of Calgary.

Lazarenko, who began an official visit to Canada last Thursday, said it will cost $ 108 million to refurbish the plant, which generates electricity for some 300,000 Kyiv residents.

Canada's Northland Power hydroelectric company is to finance and carry out the project, which is expected to be the largest investment in Ukraine by a private Canadian company so far. The company said in a statement that the planned improvements will double the plant's production capacity and reduce the pollution it emits.

Lazarenko is due to return to Ukraine today.