Electrica announces its investment budget

Electrica, the Romanian energy supply and distribution company, is planning to invest around 715 million euro until 2018, out of which 121 million this year alone, Mediafax reports. The general director of the company, Ion Rosca declared “ On the one hand important investments in the distribution sector are needed. On the other hand, we are already developing modernization projects for raising efficiency and service quality”.
The company also announced, among other developments, the finalizing of the modernization plans for the Liesti plant, one of the 27 plants of 110kW it has in Galati as part of the SDEE branch, an important node in the National Energy System.  The investment totaled around two million euro, out of which around half was provided for by non reimbursable European funds. The project was launched in 2013. Currently, 48,78 percent of the company is owned by the state, through he Ministry of Energy, Small and Medium Sized Enterprises and the Business Environment, while the EBRD owns 8,66 percent .
For this year Electrica estimates a turnover of 5,66 billion RON and a net profit of 460,7 million RON. Electrica's services cover three main areas nationwide: Northern Transylvania, Southern Transylvania, and, Northern Muntenia and has in it’s portfolio about 3,5 million customers.