EPS starts restructuring process in 2009

The Director General of the Electric Power Company of Serbia (EPS), Dragomir Marković, said that that public company would enter the restructuring process in 2009 and that the plan was that 9 billion EUR be invested in the company prior to year 2015.

- About 3 billion EUR will be provided from the loans, about 3.5 billion EUR will provided from the company's funds, while about 2.5 billion EUR will be granted by strategic partners - he said to the press.

Marković said that EPS was not even in the category of companies with medium debts if compared to other electric power companies in Europe, so that the operations would not be endangered by new loans.

According to his words, 1 billion EUR will be invested in realization of environment protection projects, which will be provided from the loans.

Marković said that the Electric Power Company of Serbia had about 31,000 employees and that it had surplus manpower when compared to similar companies in Europe.

He pointed out that the restructuring process and the improvement of efficiency anticipated not only reduction of number of employees, but also better management and financial discipline.

Elektroprivreda Srbije ad Beograd

Electric Power Company of Serbia

Dragomir Marković