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Enel investment plan due in August

ITALIAN company Enel agreed with the Slovak cabinet on an extension to the deadline for submitting its investment and development plan for Slovakia's electricity utility, Slovenské elektrárne (SE), the Economy Ministry informed the press.

Enel now has until the end of August to submit its plan.

The plan was originally due in at the end of June, the TASR news wire wrote.

Preparing the SE investment plan is one of the conditions set before Enel can definitely take control of a 66-percent stake of SE shares.

"The August date is a result of mutual agreement. We understand the situation in Enel, the management of which changed recently, and that's why they need more time. It is in our interest that the plan be prepared to the highest quality," said Economy Ministry spokesman Maroš Havran.

Slovakia's Economy Ministry does not expect the postponement to disrupt the time schedule of SE's sale. "If there are troubles with the dates in the transaction documents, we will ask the government to extend the mandate for negotiations with Enel," Havran said.

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