EPS and Germany's Thyssenkrupp ink purchase agreement for new EUR 17.97 million dredge for Kolubara

The Electric Power Company of Serbia (EPS) and Germany's Thyssenkrupp signed a EUR 17.97 million dredge purchase agreement today. The dredge will be used to excavate coal at the strip mine Tamnava Zapadno Polje in Kolubara Mining Basin. The agreement was signed by Dragomir Markovic, director general of the EPS, Nebojsa Ceran, director of Kolubara Mining Basin, Detlef Nojhaus, member of the Managing Board of Thyssenkrupp, and Vladimir Antonovic, director of TK-Trade, which is Thyssenkrupp's representative for the territory of Serbia.

The procurement of SchRs 630 25/6 dredge will be financed from the current assets of the EPS. The period set for completing the work is 20 months. Domestic companies will be hired to carry out part of the works, worth 8.89 million euros, while the rest of vital equipment, worth EUR 9 million, will be purchased from renowned European companies.

- Thyssenkrupp is a long-time partner of the EPS and Kolubara Mining Basin and our cooperation has always been very successful - said Dragomir Markovic, director general of the EPs. – This dredge will help the EPS and Kolubara boost their production capacities and improve the stability of coal supply. It is important to mention that Thyssenkrupp's main subcontractor will be Kolubara Metal with its own subcontractors.

Nebojsa Ceran, director of Kolubara Mining Basin, explained that the procurement of that dredge indicated the start of the second phase of investments, adding that EUR 150 million would be invested in the procurement of new equipment over the next year.