NIS to invest EUR 1.5bn in next three years
Oil Industry of Serbia (NIS) will invest an average of EUR 500mn a year over the next three years, NIS CEO Kirill Kravchenko said Friday.
Saturday, 15.12.2012.
13:05
BELGRADE Oil Industry of Serbia (NIS) will invest an average of EUR 500mn a year over the next three years, NIS CEO Kirill Kravchenko said Friday. He said the Pancevo refinery, which operates under NIS, would export EUR 400mn worth of euro quality oil derivatives next year. NIS to invest EUR 1.5bn in next three years At a presentation of priority energy projects, Kravchenko said that by 2015 NIS would have around 800 gas stations in six countries in the region, where it would sell two million tons of oil derivatives produced in Serbia. According to him, in the next three years NIS will be the leader in the Pannonia region in oil and gas reserves, which will exceed the output of these products. Kravchenko also announced the start of the next phase of reconstruction at the Pancevo refinery, in which the company will invest several hundred million euros, and the modernization of the Novi Sad refinery. These projects should be completed by the end of 2015. He said NIS would expand its operation to other energy sectors in addition to its oil business and that some of its projects had made it into the Serbian national priority plan. Among these projects is the Novi Sad cogeneration heat and power plant, where reconstruction will get under way next year. The EUR 250mn project is expected to be completed within 36 months. Kravchenko also announced NIS would start building a heat and power plant in Pancevo next year, worth another EUR 250mn. Together with the government, NIS will try to work out the best model for investing over EUR 1 billion in the Kovin thermal power plant and mine. On Saturday, NIS will sign an agreement on the construction of a wind farm in Plandiste in which it plans to invest EUR 160 million, said Kravchenko, adding that the facility should become operational in 2014. He said NIS also had plans to invest in geothermal springs and other renewable energy sources. (file) Tanjug
NIS to invest EUR 1.5bn in next three years
At a presentation of priority energy projects, Kravchenko said that by 2015 NIS would have around 800 gas stations in six countries in the region, where it would sell two million tons of oil derivatives produced in Serbia.According to him, in the next three years NIS will be the leader in the Pannonia region in oil and gas reserves, which will exceed the output of these products.
Kravchenko also announced the start of the next phase of reconstruction at the Pancevo refinery, in which the company will invest several hundred million euros, and the modernization of the Novi Sad refinery. These projects should be completed by the end of 2015.
He said NIS would expand its operation to other energy sectors in addition to its oil business and that some of its projects had made it into the Serbian national priority plan.
Among these projects is the Novi Sad cogeneration heat and power plant, where reconstruction will get under way next year. The EUR 250mn project is expected to be completed within 36 months.
Kravchenko also announced NIS would start building a heat and power plant in Pančevo next year, worth another EUR 250mn.
Together with the government, NIS will try to work out the best model for investing over EUR 1 billion in the Kovin thermal power plant and mine.
On Saturday, NIS will sign an agreement on the construction of a wind farm in Plandiste in which it plans to invest EUR 160 million, said Kravchenko, adding that the facility should become operational in 2014.
He said NIS also had plans to invest in geothermal springs and other renewable energy sources.
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