Clarion Partners - Owner's Engineer

Reconstruction of Kostolac thermal power plant in cooperation with Chinese partners

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Minister of Infrastructure and Energy Milutin Mrkonjic and Chinese Ambassador to Serbia Zhang Wanxue signed an agreement on a loan for the first stage of a project to rehabilitate blocks B1 and B2 at Kostolac thermal power plant.

The project is worth $344.63 million and 85% will be financed through a loan of the Chinese Eksim Bank.

The agreement envisages that the Chinese side covers 53% of the project and the remaining 47% will be covered by Serbian contractors.

Serbian President Boris Tadic, who also attended the signing, said that this affirms that the strategic partnership between Serbia and China has yielded visible economic effects.

Tadic recalled that prior to this agreement the two states had signed an agreement on the construction of the Zemun

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