Source: Blic | Sunday, 19.05.2013.| 22:50
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EFT starts construction of thermal power plant Stanari - Project totalling EUR 400 mil

Construction of power plan, Stanari, in Bosnia and Herzegovina, with the capacity of 300 megawatts, built by EFT Group, has officially started on Saturday (18 May 2013). Along with the modernization of coal mines Stanari, a total investment of roughly EUR 400 mil will be invested in the project.

This will be the first power plant of EFT Group and this electricity trader will generate and dispose of approximately 2,000 GWh of electricity per year.

- This year we are building plant major facilities and expect to begin operations in early 2016- Vuk Hamovic, president of EFT group said.

Milorad Dodik, the President of the Republic of Srpska attended the foundation ceremony as well as Wen Shugang, President of Dongfang Electric Corporation from China which will build the power plant.

Milorad Dodik, the President of the Republic of Serbian said that the power plant would be the first facility of this size in former Yugoslavia after more than 30 years and that it represented a significant investment in time of crisis.

Shugang said that Stanari would be the first project of this kind of the Chinese manufacturers of power equipment on the European market and that he expected that the reference would help Dongfang penetrating other European markets.

Coal mines Stanari, run by EFT for eight years, today employs about 470 people and by the time the plant starts operations a number of employees in the system will increase to 900

Eighty percent of the funds necessary for the construction of the power plant is provided from the Chinese Development Bank and the rest of 20% was provided by EFT and the consortium of business banks.

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