High voltage power line project Resita-Pancevo, linking Romania to Serbia, will require an investment of USD 157.5 million and will be implemented in 26 months, according to a Government Decision (HG) approving the technical-economic indicators of the project, published in the Official Gazette.

“Financing this investment objective is achieved by means of Transelectrica’s own sources, from the state budget through the budget of the General Secretariat of the Government, in the amounts approved annually for this purpose, as well as other legal sources,” reads the text of the HG, Agerpres.

400 kV overhead line Resita-Pancevo will have a length of 63 kilometers, with double circuit and will include a total of 206 poles. However, in order to expropriate the land needed to build the electric line, the Government approved the disbursement of 9,121 lei from the state budget, through the budget of the General Secretariat of the Government.

The project is part of the strategy of Transelectrica to increase the interconnection capacity of the Romanian energy system with the neighboring countries.

National electricity carrier Transelectrica received a net profit of 226.2 million lei in the first six months of the year, more than two times higher than that of the same period last year, when it recorded a net profit of 102 million lei, according to Bursa.

On June 30, shareholders Transelectrica was the following: the Romanian state through the General Secretariat of the Government – 58.6%, Property Fund – 13.4% and other shareholders – 27.8%. On July 9, 2014, the Property Fund sold through a private placement entire stake in Transelectrica.