Chinese CMEC and TE KO Kostolac to sign agreement worth 344.63 million dollars on December 8

Chinese CMEC and TE KO Kostolac will sign tomorrow in the Government of Serbia an agreement on implementation of the first phase of the project of Kostolac B Steam Power Plant, worth 344.63 million dollars.

As the people at the Electric Power Company of Serbia (EPS) announced, the agreement envisages revitalization of the blocks 1 and 2 in Kostolac B, construction of a desulfurization system for these units, as well as construction of a river port and railway. The deadline for completion of all works is 30 months from the day the agreement is signed and the loan is provided.

Implementation of the project is of crucial importance for revitalization of the two blocks of 350 MW, which should extend the life of the power plant for a further ten years.

Upon the signing of the agreement, the Government of Serbia should negotiate with Chinese Exim Bank on the loan for implementation of the first phase of this project.