“The largest portion of this amount, around €50 million, will be fed into the power distribution sector, CEZ Distributie. The remaining €2 million will go to the other companies in Romania: CEZ Trade, CEZ Vanzare and CEZ Servicii”, Jan Veskrna, CEO of CEZ Romania told NewsIn.

He added Monday that the new operations director of CEZ Romania was Martin Zmelik, who succeeded Martin Pacovsky.

CEZ Distributie’s electricity supply network consists of 43,000 km above-ground distribution lines and around 8,000 km subterranean cables.

The Czech-based group is one of the largest producers, suppliers and distributors of energy in Europe. In Romania, the group operates since 2005 through its subsidiaries: CEZ Distributie (power supplier in Arges, Dolj, Gorj, Mehedinti, Olt, Valcea and Teleorman counties), CEZ Trade (wholesale energy trade), CEZ Vanzare and CEZ Servicii. In the sales and distribution sector, CEZ holds a market share of 17% in Romania.

In Europe, CEZ serves around seven million customers and has an installed power of 14,300MW. Its market cap currently stands at €30 million. CEZ shares are listed at Prague and Warsaw trading. CEZ group operates in 11 countries in Central and Eastern Europe.