CEZ Will Invest Over EUR 420 Mil in Albania
October 10, 2008
CEZ (Prague, Czech Republic), power group, will spend over EUR 420 mil, more than CEK 10 bil, in Albania. The money will be invested in purchase of a control share in the electricity distributor Operatori i Sistemit te Shperndarjes (OSSH) (Albania), in its network’s modernization and paying of its debts. CEZ won the tender for takeover of 76% of shares in OSSH on 30 Sep 2008. CEZ offered EUR 102 mil for OSSH and it will also invest EUR 200 mil in OSSH’s modernization in five years and will pay OSSH’s old debt worth about EUR 122 mil.
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