Chinese companies negotiate investments in Serbia - Possible construction of EUR 1.5 billion thermal power station

Several Chinese companies, led by the China Power company, have expressed interest in investing EUR 1.5 billion in the construction of a thermal power station in Serbia. They are also interested in investing in the opening of new mines. According to the daily Blic, this was yesterday discussed between the representatives of Chinese companies and a Serbian delegation led by President Tomislav Nikolic.

Construction of a thermal power station in Serbia, most probably in Kolubara or Kostolac, would be China's first large investment in Europe. As Blic reported, the two sides agreed in principal to involve additional Chinese companies in that project which will be backed by the Chinese government and local finance institutions.

Negotiations are underway. It takes time to conclude the deal, but everything heads that direction. If an agreement is reached, it will be phenomenal for Serbia, and a major portion of production will be exported, Blic cited its source as saying.

China Power is one of the five largest companies in China. It is engaged in the production of aluminum, oil, equipment for railways and ports.

Chinese President Xi Jinping announced yesterday that China would give Serbia USD 5 million in grants, stressing that Belgrade-Beijing relations were entering a new phase of intensive development.

Predsedništvo Republike Srbije

Vlada Republike Srbije

Government of the People's Republic of China

Tomislav Nikolic

China power

Chinese government

Xi Jinping

Beijing

Kostolac

Kolubara