EPCG generates 20 million Euros of profits and signs agreement for underwater power cable

Srdjan Kovacevic, Chairman of the Board of EPCG said in an interview for a public newspaper of the company Elektroprivreda Crne Gore that 2009 was the first year in history of EPCG in which the company had generated profit. It has now been officially confirmed that the profit totals 20 million Euros.

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Kovacevic has confirmed that they had successfully completed the first phase of capital increase in the company and he expects that by year end they would define all the leading managerial positions.

PHOTO: Jovana Bila

Although the Italian company A2A – which is a strategic partner of EPCG – had plenty remarks regarding the work of EPCG management, Kovacevic believes that their cooperation with the Italian partner has been a successful one. In addition, Kovacevic underlined the importance of the 700 million Euro deal on building an underwater power cable, which has been signed between Montenegrin EPCG and the Italian company Terna.

He elaborated that the project in question was important as it would open the country to a massive electricity market as the Italian market which is 100-times larger than the one in Montenegro.

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