Itera to enter stock market - 13 March, 2003

The international Group of Companies Itera is going to enter the stock market within 2 to 3 month. As Itera's President Igor Makarov reported at today's meeting of the Russian Gas Society in Moscow, the gas company could make an agreement with a financial institution, which would make the most profitable and optimum offer, in the next two to three months.

According to him, they are currently holding negotiations with several financial enterprises, which specialize in introducing companies to the financial market.

Makarov also reported that this year, Itera was going to expand its investment activities. In 2003, the company is planning to invest about $200m in the oil and gas industry, while in 2002, the volume of investments was $180m.