MOSCOW, February 1. /TASS/. Rosseti Group will allocate 1.1 trillion rubles ($17.19 bln) to the investment program in 2020-2024, Head of Rosseti Pavel Livinsky said on Saturday.

"The approved investment program for the five-year period from 2020 to 2024 reaches 1.1 trillion rubles. It takes into account all investment needs, including comprehensive plan of the country and the development of regions based on mechanisms and development programs adopted by the regions," Livinsky said.

Rosseti is one of the largest power grid companies in the world, managing 2.34 mln km of power lines, 502,000 substations with transformer capacity of more than 781 GVA. The Federal Agency for State Property Management owns 88.04% of the authorized capital of the company.