"ČEZ" and Electric Power Company of RS made agreement on construction of Steam Power Plant "Gacko 2", investment worth 1.5 billion EUR

Czech energy giant "ČEZ" and the Electric Power Company of Republic of Srpska have reached the final agreement on construction of Steam Power Plant "Gacko 2". According to the words of Milorad Dodik, the President of RS, the document that will practically signify the beginning of the realization of investment Steam Power Plant “Gacko 2”, the largest foreign investment in Republic of Srpska, will be officially signed on May 16.

General Manager of "ČEZ Group", Martin Roman, pointed out that that investment would ensure energy efficiency of Republic of Srpska on long term basis. In addition, it would not do any damage to the environment, because it is a modern and ecological project.

At the end of the last year, the Prime Minister of RS and General Manager of "ČEZ Group" signed the Statement about foundation of joint venture "NERS", in which "ČEZ" will be the majority owner and it will invest 1.5 billion EUR in it.

That includes construction of steam power plant of 700 MW, opening of the new rehabilitation of the old mine and modernization of the unit for production of electricity. The investment will be realized within next four years and it will enable employment of few thousand people, including few hundred experts of various profiles.

- That is our first projects on the territory of former Yugoslavia. We will have modern and ecologically highly standardized power plant built in Gacko and I think that that can be good introduction to the projects in Serbia – said Martin Roman.

Czech energy giant "ČEZ" has already commenced trade in electricity in Serbia and expressed interest in strategic investments, especially into "Kolubara B".