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CEZ, Number One among the investors in Bulgaria

14. 3. 2005

Others

CEZ, Number One among the investors in Bulgaria

CEZ Power Company leads the preliminary ranking list of the largest foreigner investor in Bulgaria for 2004. The Bulgarian Ministry of Economy announced that in its official press release, referring to the data of the Bulgarian Investment Agency.

The Czech power company was followed by EVN Company Austrian power company, Viva Ventures an investor into the Bulgarian telecommunications, followed by a German giant E.ON. The group of five largest investors was closed by the Sisegam company, Turkish holding, which is engaged in glass production in Bulgaria. Last year, CEZ succeeded in the privatization of three Bulgarian distribution companies, for which it paid 281.5 million EUR (nearly 9 billion CZK). At the same time it was the largest-ever foreign investment in the history of the Czech Republic. No higher investment has been realized by any Czech firm abroad yet.

CEZ is planning to monitor suitable investment opportunities in the power industry in Poland, Montenegro, Romania, Macedonia, Serbia and other countries in the region of the Central and South-Eastern Europe this year.

  The expansion of CEZ in the Central and South-Eastern Europe is a part of the company development strategy, leads to the increase in the company value and is reflected positively in the prices of CEZ shares,

commented on the acquisition plans Martin Roman, CEO and the Chairman of the Board of Directors.

Having purchased the three distribution companies, CEZ is now interested in the purchase of three coal-fired plants (Bobov Dol, Varna and Ruse) with the total installed capacity of 1900 MW, which is one fifth of the total Bulgarian production capacity. They should be sold this year. Besides Bulgaria, CEZ also went on very well in Romania, where it succeeded in the tender for distribution company Electrica Oltenia.

 

Eva Novakova, Press Officer, CEZ, a.s.