Protocol signed to build new power generation unit within thermal power station and heating plant (TE-TO) Novi Sad

A protocol on investment in the reconstruction of existing cogeneration unit and the construction of new one within the Thermal Power Station and Heating Plant (TE-TO) Novi Sad was signed Wednesday in the Serbian government.

This protocol was signed by EPS Acting CEO Aleksandar Obradovic, Novi Sad Mayor Milos Vucevic, Chairman of the Energija Novi Sad Executive Board Milos Stojanovic, and authorized representatives of the consortium of bidders - Roland Tot and Paul Smith.

The consortium of bidders is made up of companies METKA from Greece, GGE from Slovakia, and CJSC Optima Energostroy from Russian Federation.

Energy Minister Zorana Mihajlovic, who attended the protocol signing ceremony, voiced her expectation that negotiations on the implementation of that project would be ended in March and that an agreement should be signed by the end of April.

The value of the first phase of this project is between 220 and 240 million euros.