Russia's high court of arbitration on Tuesday upheld the privatisation of the country's biggest dam, ending a dispute analysts link to a decision to stop supplying cheap power to a giant aluminium smelter.
The ruling reverses an earlier order that power monopoly Unified Energy System hand ownership of the plant back to the state.
"By today's decision, the (court) has dismissed the suit of the government of the Republic of Khakassia," a court spokeswoman said.
The regional government of Khakassia in Siberia where the dam is located had demanded the Sayano-Shushensk hydro-electric plant be renationalised after UES stopped supplying the region with cut-price energy from the dam.
The cheap power deal was part of the dam's original privatisation in 1993.
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