UKRAINE'S AES RIVNEENERHO ENERGY DISTRIBUTION
COMPANY TO INVEST UAH 32.28 MILLION IN 2009 

Ukrainian News Agency, Kyiv, Ukraine, Monday, January 19, 2009 

KYIV - Energy distribution company AES RivneEnerho is planning to invest in its development UAH 32.283 million (including VAT) in 2009. This investment volume is envisaged by the company's investment program endorsed by the National Electricity Regulation Commission.

Particularly, the company intends to channel UAH 22.74 million for construction, modernization and reconstruction of power grids and equipment, UAH 5.335 million for reduction of excessive electricity spending, UAH 0.519 million for introduction and development of the automatic control system.

Apart from this, the company is planning to spend UAH 0.914 million on information technologies, UAH 0.008 million on communication and telecommunication systems, UAH 2.275 million on purchase and modernization of transport means, and UAH 0.493 million on other things.

As Ukrainian News earlier reported, AES RivneEnerho had the intention to invest UAH 31.2 million in its development in 2008.  The company ended 2007 with a net profit of UAH 28.130 million. In 2001, AES Washington Holdings B.V. (the Netherlands) purchased 75%+1 share in each KyivOblEnerho and RivneOblEnerho.

Later, the companies were renamed into AES KyivOblEnerho and AES RivneEnerho. AES Corporation runs 113 energy generating facilities and 17 energy distribution companies in 27 countries of the world.
LINK:  AES is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C., www.usubc.org.