$50 million investments at Electrica

Electrica will invest 1,578bn ROL ($48.3 million) from its own resources this year. The bulk of investments, more than $19.1 million, will be directed to upgrading medium and high voltage networks, Gheorghe Budurea, Electrica spokesman said. Electrica is considering a $9.7 million investment in buying labour safety equipment and other pieces of equipment, drafting various studies and projects, while the upgrade of the management systems would see $9.5 million in funds allocated. The company will spend $3.5 million for works on its 110KW stations and $3.2 million on its customer relations centres, with another $3 million scheduled for branch development. Electrica’s latest estimates presented at the end of last year show it to have made 1,500bn ROL (some $44.5 million) profit in 2002, while turnover was 1.7bn euros. ZF