Belgrade, Feb. 05, 2010 (Serbia Today) - Serbia’s public power enterprise EPS, Chinese CMEC company, and the Kosotolac power plant signed on Wednesday (Feb. 04) a pre-contract worth over a billion dollars.
The contact agreement, related to the plant’s revitalization, was signed by EPS General Manager Dragomir Marković, representative of CMEC Jin Chunseng and Director of Kostolac thermoelectric power plant Dragan Jovanović. The project includes the revitalization of the existing blocks B1 and B2 of the Kostolac B plant, each of 350 MW capacity, and their desulphurization, it was announced. The deal, worth USD 1.25bn, will also see an increase in the capacities of the open pit Drmno to 12 million tons of lignite per year, and the construction of new block B3. Minister of Energy and Mining Petar Škundrić, who attended the signing ceremony at the Serbian government in Belgrade this Wednesday, said that the Chinese partner will take part in the project with approximately 85 percent of total funds, which exceeds the figure of USD 1bn. Škundrić also told reporters that this was one of the biggest investment ventures in the forthcoming investment cycle in the energy area, adding that the project should promote strategic cooperation between Serbia and China.
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