CEZ Distribution Bulgaria to increase investment by 11% y/y in December

A total of 708,000 levs will be invested in the city of Sofia, 286,000 levs - in southwestern Bulgaria, and 442,000 levs - in northwestern Bulgaria, the power distributor said in a press release on Sunday.

Most of the investment will be used to replace 9,000 metres of heavily damaged electric cables in the Vazrazhdane neighbourhood of the capital city and another 15,000 metres of cables in the Mladost neighbourhood.

CEZ Bulgaria, controlled by Czech power utility CEZ, began operations in November 2004. It is servicing Sofia city, the Sofia region and parts of western and northern Bulgaria. It owns CEZ Electro Bulgaria, CEZ Distribution Bulgaria, CEZ Trade Bulgaria, CEZ Laboratories Bulgaria.

CEZ Bulgaria has invested 71.6 million levs in the first nine months of 2012. It has also invested more than 293 millon levs in rehabilitation, modernisation and development of power infrastructure in western Bulgaria in the past four years.

(1 euro = 1.95583 Bulgarian levs)