SOFIA (Bulgaria), June 6 (SeeNews) – CEZ Distribution Bulgaria [BUL:3CZ], a unit of Czech power utility group CEZ, said on Tuesday it intends to invest this year 5.9 million levs ($3.4 million/3 million euro) in the town of Blagoevgrad, six times more than in 2016.
The company plans to acquire third-party energy facilities, which it is obliged to do under Bulgarian law, and to carry out electricity grid upgrades, CEZ Distribution said in a statement, posted on its website.
Last month, CEZ Distribution said it intends to invest 31 million levs in Sofia in 2017.
Last month, local media reported CEZ Group has invited four candidates interested in acquiring its assets in Bulgaria to submit binding bids and bank guarantees for their price offers.
CEZ Group assets in Bulgaria include CEZ Distribution Bulgaria AD, the public supplier of electricity and a licensed trader CEZ Electro Bulgaria, licensed electricity trader CEZ Trade Bulgaria and Varna thermal power plant. The operations of those companies are managed and coordinated by CEZ Bulgaria EAD.
CEZ Distribution shares closed 0.55% lower at 270.5 levs on Tuesday, in a trading volume of 1,919 units.
(1 euro = 1.95583 levs)