EPS to become a public limited company in 2010

In 2010, Elektroprivreda Srbije (EPS) was to become a public limited company, Director General of the Serbian power utility announced during the March 9 business forum at Kopaonik. He said that privatisation depended above all on the political stand of the company’s owner or the state of Serbia and that the privatisation procedure should be completed through a capital increase, while strategic projects of building thermal power plants, which had been started by EPS, should serve for capital increase in the company.

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Markovic added that in its investment plan until 2015, EPS had foreseen to invest overall more than nine billion Euros, which they planned to provide from different financial sources, including EPS’ own resources. The latter total 3.5 billion Euros. Strategic partners were to provide around two billion Euros, while the remaining sum of over three billion Euros was to be covered through loans.

PHOTO: EPS archive

Implementation of the respective investment plan by 2015 would enable EPS a constant development level, Markovic emphasized, adding that the company was planning to allocate about a billion Euros to ecology projects as well.

He also reminded that the plans between 2008 and 2015 included amongst others investments into revitalisation of thermal power stations, major projects in the mining sector, hydropower plant modernisation, and renewable energies. EPS Director also pointed out that the reconstruction of the public utility had begun in 2009 by having adopted a strategy, the objective of which was to increase competition.

Apart from that, Elektroprivreda Srbije has published call for tenders regarding the construction of two new thermal power plants – Nikola Tesla B3 and Kolubara B – and reached an agreement with partners from China to upgrade the Kostolac thermal power plant and build a new block there.

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