Talks completed with Chinese on B3 block in Kostolac
BELGRADE -- The management of the Kostolac thermal power plant has completed negotiations with a Chinese company to build a new thermal power block B3.
The talks also concerned an expansion of the Drmno strip coal mine, with a contract expected to be signed in September.
The new 350 megawatt power plant should be completed in under five years and the mine expansion in 42 months - 18 months before the activation of the B3 block.
The projects are part of the second stage of an arrangement with China Machinery Engineering Corporation (CMEC), and the works will cost USD 715.6 million, the company announced on its website.
The new B3 block will cost USD 613 million, while USD 97.6 million will go towards the expansion of the Drmno mine.
After feasibility and environmental impact studies are completed, a contract for the second stage of the arrangement, which is guaranteed by the state, can be signed in September, reads the release.
The projects is based on an interstate agreement between Serbia and China.
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