Russian "ITERA Group" and  "Toplifikacija A.D." will present today their project for the construction of the first private thermoelectric heating plant in Macedonia.

This project is a foreign direct investment and it is valued at 120 million euros, the Macedonian Government announced today.

The construction of this object – the only such object in Southeastern Europe – should start in October year 2005 and it is expected to become operational in two years.

"ITERA Group" and the Macedonian Government will sign a memorandum for cooperation today.

ITERA is a private natural gas company with nearly 150 representative offices, branches, and affiliated companies in Russia, the CIS, the Baltic States, Europe, and the USA.