Romanian power grid operator Transelectrica, said it plans
investments worth about 283 million lei($72 million/64million euro) this year,
mainly in grid upgrades and expansion, IT andtelecommunications.
Out of
the total amount, 12.5 million lei will be spent on connecting new customers to
the power grid and will befinanced by them, Transelectrica said in the
documents for a general shareholders meeting scheduled for March 23, posted on
its website on Thursday.
For 2016 and 2017 the company has earmarked
total investments worth 376 million lei and 409 million lei,
respectively.
Commenting on the news, Raiffeisen Bank said in a note to
investors on Friday, "Investments for 2015-17 are seen on average at RON [lei]
352 mn, below our expectations (avg RON 450 mn)."
Blue-chip
Transelectrica's net profit surged 84% to370 million lei in 2014 as
revenuegrew faster thancosts.
The company's shares were changing hands
0.06% up at32.49 lei by 0939 CET on Friday.