Belgrade, Dec.5th, 2009 (Serbia Today) - The Development of a new a new thermoelectric plant is expected to be built in Kostolac with the help of a loan from China, announced Interior Minister Ivica Dacic and Energy Minister Petar Skundric.
The project is plans for the increasing technical efficiency and a restoration of the Drmno mine for the production of 12 million tons of coal yearly, which is a prerequisite for building a new bloc of thermoelectric plants to produce between 350 and 600 megawatts.
Interior Minister Ivica Dacic and Energy Minister Petar Skundric said that the credit arrangement that is being negotiated with Chinese partners would secure funds for new projects in Kostolac. The project is estimated to cost EUR 850 million, according to Serbian news service B92. Skundric said that the investments which are to be coordinated between the Serbian government and the Chinese investors would be worth close to EUR 1 billion.
“Next year, we will begin the largest investment project in the Serbia electro-system in Kostolac. We have done everything that was necessary and created the conditions for reaching an agreement for securing funds for these projects,” Skundric said.
Dacic said that the Serbian government has formed a working group headed by the Energy Minister, which would lead the negotiations for securing the credit that would finance these projects in the energy sector.
“There is an interest being shown by potential Chinese partners that could secure as much as EUR 850 million in the revitalization and construction of new capacities. I think that about EUR 600 million is expected to be needed for the construction of the new mine and plant. I hope that the negotiations will be completed as soon as possible,” Dacic said.
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