BUSINESS BYTES

Slovak Gas wants Greek distribution company

Slovenský Plynárenský Priemysel (SPP- the state-run Slovak Gas Company) wants to purchase 49 percent of EDA, one of three gas distribution companies in Greece. If it wins the bid, SPP will become the general supplier of gas and other distribution services for a 25 year period. According to SPP's management, investment in the distribution network will be 500 million Sk ($16.7 million) during each of the first three to five years. SPP's condition is that the distribution network be self-financed - the yield from the first elements of construction will be used to finance construction of subsequent section.

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