EFT Group expects to get permit to open mine and exploit coal in Municipality of Lučani

EFT company plans to invest nearly 400m EUR in development of steam power plant and opening of mine in Municipality of Lučani.

EFT Group announced that it expected to get permit to open mine and exploit coal in Municipality of Lučani at the beginning of the next year. The whole project anticipates investment of 110m EUR in development of the mine, while another 280m EUR will be needed for construction of the steam power plant.

- The research works that were started at this location in May confirmed the assumptions concerning available quantities of coal in this ore deposit. The basin has over 49m tons of coal whose average energy value amounts to about 9,100 KJ/kg - said Zlatan Matko, the Manager of Investment Sector in EFT Group.

People in EFT say that, according to the initial calculations, these characteristics and available quantities of coal create the base for analysis of chances for development of 132 MW steam power plant at this location.

This facility would be annually producing about 980 GWh of electric power starting from year 2016, and it would be the first plant in Serbia built in accordance with the EU environment protection regulations.

- EFT Group has already invested about 3m EUR in research works and it also started other activities related to construction of the steam power plant - economic analyses, elaboration of general project with previous feasibility study, selection of microlocation and technological solutions - said Zoran Ivković, Development Manager in EFT Group.

As he added, the company expects to get exploitation license in 2009, which will be followed by the decision about further development of the project, based on the available information.

People in EFT says that, according to the preliminary estimates, about 600 miners could be hired to work in the mine. Possible development of the steam power plant would create additional 150 jobs.

EFT GROUP

New Roads d.o.o. Beograd

Opština Lučani

Zlatan Matko

Zoran Ivković