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MVM /Fotáv sign on Ft 10.5 bln project

State-owned wholesaler Hungarian Electricity Works (MVM) Rt and Budapest district heating company Főtáv Rt has signed an agreement about a development project worth a total of Ft 10.5 billion, unnamed sources reported. Around 70% of the heat demand in Northern Buda and Old Buda will be covered through the new developments. The first phase of the project is to be completed by March 2007, the second phase by October 2007, while the third by March 2008. (NG 4) P.O.