EVN Bulgaria to invest EUR 57.8mn in infrastructure upgrades.

By bne IntelliNews January 18, 2011
EVN Bulgaria will invest BGN 113.1mn (EUR 57.8mn) in infrastructure upgrades, econ.bg reported, quoting company executive Jorg Sollfelner. Two-thirds will be spent on modernisation of the company's network. Investments will be made in improving the security of electricity supply. In case electricity prices rise, the company vowed to invest more. EVN Bulgaria, wholly-owned by Austrian regional energy utility EVN AG, started operations in 2005, following the acquisition of Elektrorazpredelenie - Plovdiv (Electricity Distribution Company-Plovdiv) and Elektrorazpredelenie Stara Zagora (Electricity Distribution Company-Stara Zagora). Thus, EVN supplies electricity to 1.6mn customers in southeastern Bulgaria. As of December 2007, it also started heating distribution in Plovdiv and Assenovgrad. EVN Bulgaria has poured in BGN 620mn in the period 2005-2009. Its investment programme for 2010 was planned at BGN 146mn.
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