The upgrade works will bring the state budget an inflow estimated at RON234 million.
Transgaz also forecasts the investments program will drive its net profit to RON188 million and local budgets allotments of over RON13 million.
The company said mid-August its net profit fell 17.6% on the year to RON210.3 million (EUR48 million) in the first half, due to higher costs. In January through June last year, Transgaz posted a net profit of RON255.2 million.
Transgaz was listed on the Bucharest Stock Exchange at the beginning of 2008. The Economy Ministry owns a 73.5% stake, investment fund Fondul Proprietatea has almost 15% of its shares and the rest is distributed among minority shareholders.
The ministry plans to run a secondary offering for a 15% stake by the end of October.
Wednesday, Transgaz closed down 0.72% at RON201.4 a share. (EUR1=RON4.4940)