June 8 (SeeNews) - Electrohold Bulgaria, the electricity supply and distribution arm of diversified group Eurohold Bulgaria [BUL:EUBG], said on Wednesday that it will spend 8 million levs ($4.4 million/4.1 million euro) by the end of 2022 to upgrade the power transmission grid in the southwestern region of Blagoevgrad.
The investment will be made by Electrohold subsidiary Electrodistribution Grid West, or EDG West, [BUL:CEZD], the company said in an emailed statement.
Out of the total planned amount, 1 million levs will be invested in the reconstruction of the low-voltage network and the installation of remote electricity meters in the towns of Blagoevgrad, Bansko and Razlog.
EDG West also intends to invest 2 million levs in connecting new clients to the local grid.
In addition, over half a million levs has been earmarked for major grid upgrades in villages across seven municipalities including Sandanski and Petrich.
The company will spend close to 500,000 levs to repair overhead lines, which provide power to 85 towns and villages in seven municipalities, including Bansko, Sandanski, Petrich and Blagoevgrad.
The power distributor has also set aside 320,000 levs for new village substations, as well as 160,000 levs to upgrade a hub station in the town of Melnik.
(1 euro = 1.95583 levs)