Romania’s Distrigaz Sud slates EUR 80.25m investments for this year, eyes infrastructure upgrades

A 13 percent share of the 300 million lei will be invested in the development of the company while the rest will be spent on acquisitions. The company wants to increase the security of the gas infrastructure and develop its distribution network, according to Moreau. Distrigaz Sud also wants to set up three centers which will take over emergency calls.

Romanian Gas Holding holds 51 percent of the company’s shares. Some 12 percent belong to the Proprietatea Fund, an investment vehicle created to pay damages to those whose properties were illegally seized during the communist regime. A 37 percent stake is held by Romania’s Authority for State Assets Recovery.

Distrigaz Sud yesterday warned over a possible 10 percent increase of gas prices.

Arnaud Bernard, the general manager of Distrigaz Sud, suggested a public decision could be made at the beginning of next month. The official noted the company is trying to hike prices in several stages, in a bid to protect consumers. 

Source: NewsIn