Total of 17.85m EUR for environment protection - contract signed on loan for ecological projects in Steam Power Plant Kostolac

The Electric Power Company of Serbia (EPS) signed significant contract worth 17.85m EUR on January 29, 2010, with the consortium comprising Clyde Bergeman and subcontractors Goša Montaža and Goša FOM. Serbia companies will get 40 of aforementioned amount, which is, once again, the proof of EPS's support to Serbian company.

Dragomir Marković, the CEO of EPS, signed the contract on behalf of the Electric Power Company of Serbia, Dragan Jovanović signed it on behalf of Steam Power Plant (TE-KO) Kostolac, while Jeff Hudson, the CEO of certain part of Clyde Bergeman, signed the contract on behalf of the leader of the consortium, and Branko Šljivar, the CEO of Goša Montaža, signed it on behalf of Serbian part of the consortium.

The whole project that enables continuation of realization of environmental works in Kostolac's energy basin will be financed by the German Development Bank (KfW) and EPS. KfW Bank will provide about 12m EUR, while the rest will be provided by EPS.

The project includes replacement of the existing ash and slag transportation system with the low-water hydraulic transportation system, which will significantly reduce the unit's influence on water, earth and air in the vicinity of power plants.

This project and the project for reconstruction of electric filters will also be implemented in Steam Power Plant Kostolac B (Drmno) during 2010 and 2011, on both blocks, which represents realization of the Action Plan for Environment Protection (Phase 1) for the region of Kostolac.

- I hope that these projects will be implemented according to the plan. That is very significant to us because the projects are very important and they should make it possible for local steam power plants to get modern ecological systems -said Dragomir Marković.