OREANDA-NEWS. December 30, 2011. Minister of Finance of Ukraine Fedir Yaroshenko has had a meeting with officials of the Federal Republic of Germany aimed at signing agreements for the investment project "Improving the efficiency of energy transmission (Modernization of switching stations)."

This project provides for improved security, reliability, efficiency and quality of energy transmission by rehabilitating the switching stations, which are operated for rather long time and mainly equipped with electrical facilities having largely expired their operational periods set by the manufacturer.

When implemented, the project will enable Ukraine to take a big step towards technological development approximating it to assembling with the electricity market of the European Union, and to become its important and valuable component.

"Today's meeting is very decisive, since Ukraine and Germany will welcome in the new year of 2012 as full-fledged partners in a strategically important industry such as energy. We see Germany as a stable and reliable partner and are willing to cooperate in other equally interesting and important areas as well", Minister of Finance summarized.