barclays corp michael franca he's an analyst at ferus and stephen cousins he is partner in the p.p.c. group in the moscow office of c. m. s. oh ok we're never going to go to you first give me the bad news just how bad is russia's infrastructure in two thousand and eleven. ok now one percent excellent and in a way with a lot of opportunity to improve our position in a way like this project has a lot of challenges so you're starting from a low base and you're saying not so low but it's not enough yes in any way we we are ready we are ready to help but exactly planned how did it all last with projects in this case because of course there was he said what you have now and we have no idea what it will be in next time it was not but maybe not enough like all projects around the start of this position and they have to date improve the situation ok well you know they're going to you're optimistic not me no wait are you betting your sector you're in the electricity sector i think we have number of targets here one target would be to bring in newest technology because verse to really have to benchmar

barclays corp michael owen franca he's an analyst at ferus and stephen cousins he is a partner in the p.p.c. group in the moscow office of c.m.s. ok we're going to go to you first give me the bad news just how bad is russia's infrastructure in two thousand and eleven. ok not so excellent and in a way we have a lot of opportunity to improve our position in a way like this project has a lot of challenges so you starting from a low base you say not so low but it's not enough yet in any way we we are ready we are ready to help but exactly plan how to get a life with projects in this case because of course as you said what you have no idea what will be the next time it was not but i did not have nothing like that all projects around we start with this position and they have to improve the situation ok with a little bit you are optimistic not me no wait are you willing your sector you are in the electricity sector i think we have number of targets one target would be to bring in new was the core because first the really have to benchmark against top water projects. bringing south expertise this technolo

corporation michael our franca he's an analyst at paris and steven cousins he is partner in the p.p.c. group in the moscow office of c.m.s. oh ok we're never going to go to you first give me the bad news just how bad is russia's infrastructure in two thousand and eleven. ok not the one percent excellent anyway because a lot of opportunity for all opposition anyway like these projects there's a lot of challenge so you're starting from a low base and you say not so low but it's not enough yes in any way we we are ready we are ready to play exactly how we realize this project this case with up of course as he said what you have no idea what it will be in next time course not but not enough time like all projects are out we start with this position and they have to improve the situation ok with a little bit you're optimizing or you know what are you going your sector if you're in the electricity sector i think we have number of targets one target we're going to bring in new was the call because obviously we have to benchmark against top world. brings our exports. is this technology from the old

barclays corp michael franca he's an analyst at ferus and steven cousins he is partner in the p.p.c. group in the moscow office of c.m.s. oh ok we're never going to go to you first give me the bad news just how bad is russia's infrastructure in two thousand and eleven. but ok now so that's a lot but anyway there's a lot of opportunity to grow our position in a way like this project has a lot of challenge so you're starting from a low base you say not so low but it's not enough for us in any way we we are ready we are ready to play exactly play how we'll license projects in this case because of course that was issued what it's now and will be in next time it was not but not enough like all projects are out and stuff for this position and they have to improve that situation ok well if you're an optimist you know you know what are you betting your sector you're in the electricity sector i think we have a number of targets one target we're going to bring in us to call because obviously we have to benchmark against top project. expertise a cyclone. help to rebuild the russian and french this is