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Tauron Finance Chief Expects Increase in 2012 Investment

Tauron Finance Chief Expects Increase in 2012 Investment

The chief financial officer of Tauron, Poland's second-largest utility, said during a recent interview with Reuters that he expects the company's investment spending to jump about 10 percent higher in 2012 than it was this year.

CFO Krzysztof Zawadzki added that the company's anticipated net profit of $349 million appeared to be "very realistic," saying the utility would most likely consider a share issue over the next few years.

The finance chief's comments come as Tauron CEO Dariusz Lubera told reporters recently that Tauron could partner with rival PGE to construct a new nuclear power plant, Reuters reported.

Tauron is already reportedly working with KGHM on the establishment of a new power unit, according to the news source.

The utility's moves do not stop there, however, as Tauron recently completed the purchase of regional power distributor GZE, according to the Warsaw Voice. The news source reports Tauron inked a preliminary agreement with Sweden's Vattenfall to purchase the distributor in August, with the transaction cleared by anti-monopoly authorities on November 30.