Electrica Muntenia Sud posts 292m-euro turnover

Electrical power distributor Electrica Muntenia Sud, a branch of the Electrica company estimates turnover to stand at some 292 million euros (12,000bn ROL) this year, up 18% in euros and 30% in ROL from last year. “As for our turnover, we are getting close to some 292 million euros (12,000bn ROL),” Ion Turbatu, the company’s manager stated. A corporate report says last year’s turnover stood at 247 million euros (9,286bn ROL). Muntenia Sud supplies more than one million customers in Bucharest, Ilfov and Giurgiu County with electrical power. CEZ (Czech Republic), E.ON (Germany) and Enel (Italy) are interested in participating in the privatisation of this company scheduled for 2005. The first two regional branches of Electrica have already been privatised. Italian Enel Group signed a deal to buy Electrica Banat and Dobrogea for 112 million euros early in July. CEZ has made it into the final rounds of talks over the privatisation of Electrica Oltenia, while E.ON is in talks with the authorities to take over Electrica Moldova. Electrica owns eight branches, which are separate legal entities, and supplies power to a total of eight million clients. ZF