Increasing the investment potentials of leading mining sector company in Serbia
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With increased production and reduction of operational costs, good result is just the natural summary of total efforts. Maintenance costs are being decreased for 15 mil euro per year. Kolubara good result influenced also the overall energy security situation of the country, but also influenced the solid electricity export which was important as financial input for complete EPS, explained Mr.Nebojsa Ceran, General Manager of Kolubara mines basin company biggest mining company in Serbia.
For us in this moment, most important thing is to accomplish good business results. This is not only longterm task but also most important daily issue. Kolubara mines basin company already achieved more than planed for first 8 months. To be precise, more than 1.3mil tons of coal was produced, more than it was planed. Just for an insight into our projections, the overall plan for complete 2011 was 30 mil tons of coal, explained Mr.Nebojsa Ceran, Director of Kolubara mines basin company for EPS ( Electric power of Serbia) magazine Kwh.
According to Mr.Ceran, Kolubara is on the crossing point. The question is how to realize forthcoming investment plan along with current obligations in different areas. We are on the track to open new coal exploration fields. In order to achieve this development projects certain big and important infrastructure projects have to completed, preparations are underway for their realization.
Final aspect and precondition for this development steps are procurements of mining equipment and machines, baggers, transporters and other heavy machines. We are speaking about the equipment which production and ordering last for 2-3 years, the scope of investment could be soight within the example that one such operational system last costs 80 mil euro.
Financing the development
– We can finance the development projects by increasing the investment potential of the company and by savings we managed. Kolubara last year invested 80 mil euros, from its own funds and not from state budget. We are hoping to increase this investment potential to 100 mil euros in next few years. In addition to this we have to mention contracts with EBRD and German development bank KfW. And considering the fact that procurement of the equipment demands 3 -4years this are the assets we see as addition to our own investment potential. Total credit arrangement have the value of 150 mil euros in the next following years. The complete missing assets are covered with this credit lines and its supported with state guaranties, those are non financial credits with very low interest rates
Mr.Ceran explained the importance of usage of this credits, which will be used for procurement on equipment for coal homogenization which will influence the quality of the coal, decrease the emissions in power plants, decrease the consumption and increase efficiency in coal burning. Kolubara successfully passed all consultants assessments, signed first contracts and expecting to be concluded so we can resume financing of other projects in 2012, which will provide us more sustainability and security for the company development path.
Source: Serbia Energy digest from Kwh magazine interview
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