Contract on Chinese loan ratified - A total of 608,26 m for Kostolac B

(Photo: te-ko.rs)

The minister of mining and energy of Serbia, Aleksandar Antic, in his explanation of the legal proposal said the loan will enable implementation of very important project in Serbia which will provide energy system stability and electricity supplying.

He said Chinese loan will enable construction of the first big energy facility in Serbia after more than two decades and that it will open 500 new positions in Thermal power plant Kostolac.

Chinese loan will cover 85 % of project value, totaling USD 715,6 m.

According to previous announcements, based on the contract with Chinese CMEC, deadline for new block construction is 58 months which means it should end in 2019 and to be connected to the network as of 2020.