ITERA GROUP AND TOPLIFIKACIJA ENTER A PROJECT VALUED AT 120 MILLION EUROS
admin1 – August 23, 2005 – 1:10pm
FDI valued at 120 million euros

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.