Bosnia and Herzegovina: Losses at RiTE Ugljevik in 2020

, SEE Energy News

In the first nine months of 2020, RiTE Ugljevik – coalmine and thermal power plant recorded a net loss in the amount of 5.6 million euros, compared to a loss of around 450,000 euros in the same period last year.

The company’s revenues in the first nine months of the year fell by 5 % compared to the same period in 2019 and amounted to 49.7 million euros. Total expenditures rose by 1.8 % to 53 million euros. In late 2019, the newly installed flue gas desulfurization facility at coal-fired thermal power plant Ugljevik, a project worth some 80 million euros, has entered trial operation. The facility was officially put into operation in October.