MOSCOW, Oct 20, 2005 -- UPI

 

Italy's Enel SpA, Europe's second largest utility, is planning to invest millions, if not billions, in Russian power plants.

The company's chief executive, Fulvio Conti, said Enel has about $18 billion in its "war chest" to spend on expansion, adding it plans to invest a "substantial" portion of that in Russia, MosNews said Thursday.

Enel, which began operating in Russia last year, owns electrical power stations in Italy, Spain, the United States, Canada, Costa-Rica, Chili, Guatemala and Bulgaria.

The Italian government owns 61 percent of the company.

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