25 Dec 2012 14:56

Southern Grid Co to invest 33.7 bln rubles by 2018

ROSTOV. Dec 25 (Interfax) - Inter-District Grid Company South (IDGC South) plans to invest 33.7 billion rubles in the period 2012-2017, the company said in a statement.

The company told Interfax that it invested 2.2 billion rubles in January-September 2012, 16% more than planned, commissioning more than 70 MVA of capacity and 470 km of power lines.

"The modernization and construction of new power installations to prepare southern Russia for the football World Cup Finals in 2018 is one of the company's strategically tasks," the company said in the statement.

The company was set up in June 2007 and brings together the Rostovenergo, Astrakhanenergo, Kalmenergo, Volgogradenergo and Kubanenergo power utilities.