New investments in Trepce - Mining-metallurgy and chemical combine signs contract on cooperation with American New Generation Power

("Trepca")

The agreement of business-technical cooperation has been signed today at the Government of Serbia between Mining-metallurgy and chemical combine Trepca and American consortium, New Generation Power (NGP), which implies new investments, increase in scope and production quality and new hires.

The exact investment amount will be published after the Feasibility Study completion. The study development should start in the next weeks.

The Minister of Mining and Natural Resources, Milan Bacevic, pointed out that the arrival of such a combine to the north part of Kosovo and Metohija would improve position for political tals between Belgrade and Pristina which would continue and move to a good direction.

- NGP is the most powerful consortium in Illinois and among the strongest in USA, - Bacevic said at the press conference hosted at the Government of Serbia, after signing the contract.

The President of NGP, Chirinjeev Kathuria said that the company cooperated with State Department aiming at solving any legal issues with respect to Trepca.

He mentioned that after signing the agreement with Serbia, they would move to talks with the Kosovo party.

The Trepca combine has existed for 85 years and it used to employ 25,000 people. The company is undergoing the restructuring process and its legal status is currently not defined. It is split in line with ethnical principle, 65-70% of capacity is in the south part of Kosovska Mitrovica and the rest is in the north part of the town.