The press service of ALROSA Company informs that on June 10 there was a ceremony of the Shikapa River covering held in Angola. Hydroelectric power station is being built in the region. The ceremony was attended by Angolan and Russian officials and businessmen including the representatives of ALROSA Company.

Power station building is very important for the country, it will help not only diamonds industry development but power engineering as well. It is the step forward the further cooperation between ALROSA and Angola improvement. Now there are three large joint Russian and Angolan ventures being developed. ALROSA CEO Vladimir Kalitin has signed an order to allocate $12 mln for the station building. In 2004 $23 mln will be invested into the project.