$1bn for energy and oil

The Ministry of Industry and Resources (MIR) expects the companies it operates to invest about 66,151 billion ROL ($1.7bn) in 2003, according to a report released at the end of last year. Power, oil and gases alone will attract investments worth more than one billion dollars. The money will come from the companies themselves, from the budget, the ministry’s special fund and loans (domestic and foreign). Most of the funds will go to the energy sector, which is likely to absorb about one third of the scheduled investments, namely 19.371 billion ROL ($532m, considering an average exchange rate of 37,271 ROL/USD in 2003). ZF