EPS to remain majority state-owned

Minister of Mining and Energy Petar Škundrić 18 assessed that Electric Power Industry of Serbia, EPS, will remain in majority state ownership.

Izvor: Beta

Friday, 19.03.2010.

09:38

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Minister of Mining and Energy Petar Skundric 18 assessed that Electric Power Industry of Serbia, EPS, will remain in majority state ownership. "EPS will never be privatized according to the general model for selling enterprises," Skundric said in Novi Sad, at the opening of an electrical relay station into which EUR 1.7mn was invested. EPS to remain majority state-owned He announced that EUR 9bn will be invested in the revitalization and construction of new electricity production capacities in Serbia. "This company is a national treasure, a national asset and a great need of society, so it will remain majority state-owned. Precisely for this reason, the company should remain in the majority ownership of Serbia, that is, its citizens," Skundric said. He added that the EUR 9bn investment will partly be provided by the company, and partly from favorable credit arrangements. "We are finalizing the negotiations on a credit for the full reconstruction of the Kostolac Thermal Power Plant, and the construction of a new unit in the plant," Skundric underscored. He said that the project is worth USD 1.07bn and that the credit is being arranged with China, under extremely favorable conditions, namely, with a repayment period of 15 years and a grace period of five years with an interest rate less than three percent. The minister also announced the beginning of the construction of new capacities in thermal power plants Kolubara B and Nikola Tesla 3.

EPS to remain majority state-owned

He announced that EUR 9bn will be invested in the revitalization and construction of new electricity production capacities in Serbia.

"This company is a national treasure, a national asset and a great need of society, so it will remain majority state-owned. Precisely for this reason, the company should remain in the majority ownership of Serbia, that is, its citizens," Škundrić said.

He added that the EUR 9bn investment will partly be provided by the company, and partly from favorable credit arrangements.

"We are finalizing the negotiations on a credit for the full reconstruction of the Kostolac Thermal Power Plant, and the construction of a new unit in the plant," Škundrić underscored.

He said that the project is worth USD 1.07bn and that the credit is being arranged with China, under extremely favorable conditions, namely, with a repayment period of 15 years and a grace period of five years with an interest rate less than three percent.

The minister also announced the beginning of the construction of new capacities in thermal power plants Kolubara B and Nikola Tesla 3.

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