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Mavir to complete three power-line investments over next year - newspaper

Hungarian state-owned transmission-system operator Mavir will complete construction of three power lines over the next year, the business daily Világgazdaság reported.

Mavir CEO Gábor Tari told the newspaper that the company will complete 400kV power lines from Szombathely to Vienna in early May and Pecs (S Hungary) to Ernestinovo, Croatia, during the first half of 2010 as well as power lines close to Budapest between Bicske and Mártonvasár at the end of the year and from a power plant that E.ON is building in Gönyű this summer.

The Mavir CEO said the company is in talks with Slovak partners regarding construction of power lines between Slovakia and Hungary and a joint auction for cross-border capacity.

Tari noted that a stipulation in Hungary's new electricity law requiring Mavir to totally separate its operations from those of state-owned parent company MVM will require Mavir to make further investments.

In February, Tari told MTI that Mavir plans to spend about HUF 20 billion on investments in 2010.

Mavir generated revenue of HUF 116.3 billion (€438.5 million) in 2009, compared to HUF 105 billion in 2008, posting after-tax profit of HUF 8 billion last year, compared to HUF 8.2 billion the previous year. (MTI – Econews)