June 22 (SeeNews) - Electrohold Bulgaria, the electricity supply and distribution arm of diversified group Eurohold Bulgaria [BUL:EUBG], said on Wednesday that it will spend 2.37 million levs ($1.3 million/1.2 million euro) in 2022 for construction and reconstruction of its low-voltage network in the north-central region of Lovech.
The investments will be carried out by its indirect subsidiary Electrodistribution Grid West, or EGW, [BUL:CEZD] and will include an amount of 500,000 levs dedicated to connecting new clients, Eurohold Bulgaria said in a statement.
Other works will include the upgrade of the Beglezh hub station, which will require an investment of 250,000 levs, the company added.
EDG West operates the distribution grid on an area of over 40,000 sq km in northern and northwestern Bulgaria, including the Sofia region.
In May, Electrohold Bulgaria said it will invest 300 million levs in digitalisation and modernisation of EGW's grid in the three years to end-2023.
(1 euro = 1.95583 levs)