E.On to embark on mammoth investment projects
Monday, June 13, 2005, 00:00
Germany?s E.On AG, Europe?s leading utility group announced that it would invest Euro 6.8 billion through E.On Energie to build two 1,800 MW power plants, an 800 MW combined-cycle plant and a 1,000 MW coal-fuelled plant until 2007. Besides Germany, Hungary and Slovakia are listed as potential locations for the projects. According to business daily Napi Gazdaság, E.On Hungary Rt is set to mount a Ft 100 billion investment in Hungary to build power plant in Mohács, central Hungary. The company is currently in talks to buy a 27-hectare building site in the town?s industrial park. The project is scheduled to start in 2007, while the new plant is expected to be up and running by 2009. In other news, E.On also said that it had sold a subsidiary of Ruhrgas to CVC Capital Partners, a British investor group, for Euro 1.5 billion.