Construction at Serbian power firm

Source:Reuters Published: 2017/11/21 21:23:40

A Chinese company started construction on Monday of a new 350-megawatt unit at Serbia's second-largest coal-fired power plant, the first new electricity capacity in the Balkan country in nearly 30 years.

The $613 million project is part of a wider deal between Serbia and China that includes expansion of a nearby coal mine and upgrade of existing capacity in the Kostolac coal-fired plant complex.

The Export-Import Bank of China will provide 80 percent of the funding for the entire project. The Serbian government will provide the rest of the funds. China Machinery and Engineering Corp is carrying out the construction.

Posted in: COMPANIES

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