Clarion Partners - Owner's Engineer

€2bn to Serbia from China

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The Serbian energy sector is probably becoming the largest Chinese investment in this part of Europe. In several projects, including the renewable sources as well, the Chinese are ready to invest even €2bn! Moreover, as they announced, together with the Italians they are interested into the construction of solar power plants as well as hydroelectric power plants on the Ibar, the Lim, the Bistrica, the Drina etc.

Petar Škundric, Special Adviser to the Prime Minister Cvetkovic, within the state delegation  in the People’s Republic of China signed a contract for the first line of credit in the amount of €1bn for the reconstruction of the mine in Kostolac, a new unit in TPP Kostolac and construction of a port on the Danube through which the coal would be transported. The agreement was agreed between the two governments and is expected to be signed.

– The Chinese are ready to give us a soft loan of €1bn for TENT Obrenovac! It is very important for Serbia because Serbia couldn’t find the partners for TENT until now although there’s been a rumour that this would be the German company RWE. With the bridge the Chinese build across the Danube they are slowly becoming a top Serbian partner.

– China and Serbia signed the agreement on strategic partnership which is the main frame for all the investments. P.R. China has such agreements with only a few countries in the world, and there is no such agreement with a country similar to the size of Serbia. China offers the best possible conditions for financing in the world with the lowest cost of capital! The Chinese companies showed that they are ready to implement the latest technologies and to be very efficient. Our interest is to get new energy facilities that will satisfy the increasing demand for energy. It is also important to employ as many local companies and our people in order to gain knowledge and references so that they could do similar work in other countries as well- states Škundric.

Strategic support

Agreement on strategic partnership between China and Serbia was signed by the Serbian president Tadic and Chinese president Hu Jintao in August 2009. Specific projects include the official start of the economic part of the agreement.

Confirmation in Beijing

Mixed Committee for economic cooperation between Serbia and China began in Beijing.

Serbian delegation is led by Minister Vuk Jeremic and the energy sector is represented by State Secretary Dušan Mrakic.



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