The construction of the hydro power plant Boguchanskaya began in 1980 and resumed in 2006. The plant is located on the river Angara near the town Kodinsk. It is carried out by the companies “RusHydro” and “Rusal”. In May 2006 they signed an agreement on the joint development of the Boguchanskoye Energy and Metals Complex (BEMO). The BEMO project provided: completion of the hydroelectric plant and building a nearby aluminum smelter, which would off-take considerable amount of electricity produced by the power plant. The planned design capacity is 3,000 MW. The Russian government points to the importance of completion of the hydroelectric power station for the development of the Siberian economic region according to the "Complex development of the Lower Angara Territories” strategy.