Conference on 300m EUR worth of additional capitalization of EPCG on January 13 in Podgorica

The investment conference on 300m EUR worth of additional capitalization of "Electric Power Company of Montenegro" (EPCG) will be held tomorrow (January 13th, 2009) in Podgorica.

The Cabinet of the Deputy Prime Minister of Economy, Vujica Lazović, has announced today that the conference, which will be opened by Prime Minister Milo Đukanović, will gather "representatives of the world’s 19 largest companies interested in participation in the procedure for selection of the strategic partner for additional capitalization of EPCG".

The aim of the conference is the presentation of projects for additional capitalization of EPCG to potential investors.

The presentation will be attended by the members of the tender commission for additional capitalization of EPCG and the representatives of the administration of EPCG. The participants will be able to exchange the opinions about the projected structure of the project, in the context of the strategy for development of Montenegrin energy sector and investors’ investment plans.

The Government will use additional capitalization of EPCG to keep the ownership share of 55% in that company. About 22% of stocks of EPCG will be offered for sale at nominal price of 8.9 EUR. The decision about commencement of additional capitalization procedure has been adopted by the Privatization Council in July 2008 and the tender commission has been formed. Prequalification public invitation for additional capitalization of EPCG will be announced in the second half of January.

Elektroprivreda Crne Gore ad Nikšić

Vlada Crne Gore

Vujica Lazović

Milo Đukanović