The contracts are worth a total of RON5.7 million lei (EUR1.28 million).

The value of the projects submitted by the electricity distributor stands at RON16.2 million (EUR3.7 million), the Economy Ministry said in a press release Friday.

Electrica Distributie Muntenia Nord registered turnover of 685.7 million lei (EUR162.1 million) in 2011, up 15% on the year, and a net profit of RON67.4 million, 2.5 times higher compared with 2010.

Electrica SA is controlled by the state, through the Economy Ministry. (EUR1=RON4.4648)