Bosnia: EPBiH to invest 300 million euros in its coalmines

, SEE Energy News

The head of production sector at Bosnian power utility EPBiH, Fahrudin Tanovic said based on two investment cycles, as part of the company’s recapitalization, EPBiH will invest about 300 million euros in its coalmines by the end of 2018.

At the International Energy Fair Energa in Sarajevo, Tanovic presented the current and planned investments in EPBiH’s coalmines, stating that in the first cycle of the recapitalization, which lasted to the end of 2015, investments in coalmines amounted to 132 million euros, while the current investment cycle, which started on 29 March 2016, envisages the investment of additional 168 million euros.

Commenting on coal production in EPBiH’s mines in the last seven year, he said that the increase in production is evident in the first few years, but after that the production declines as a result of insufficient investments.

Tanovic explained that coal production was the highest in 2011 and 2012, amounting to almost 5.5 million tons per year, while in 2015 it fell to 4.5 million tons. However, in 2016, coal production begins to rise again, reaching a total of 4.9 million tons, while the aim for 2017 is to achieve the production of 5.5 million tons of coal.

Coalmines operated by EPBiH recorded an increase in coal production during 2016. The total amount of coal produced by EPBiH was 4.97 million tons, which is 9.8 % more than in the previous year. The most significant increase in production compared to 2015, was achieved by Kreka and Zenica coalmines, which increased production by 19 % and 15 % respectively. Coal production at Breza coalmine increased by 14.4 % compared to 2015, while Djurdjevik and Gracanica mines increased production by 7.7 % and 3.62 % respectively.

Bosnia and Herzegovina, 08.06. Cooperation between ERS and Belarusian Belenergo

According to the statement from Bosnian power utility ERS, the company has signed a cooperation agreement with its Belarusian counterpart – Belenergo.

The signed agreement paves the way for the establishment of a joint committee which will define the forms of cooperation between the two companies. Director General of ERS Zeljko Kovacevic said that the company needs the Belarusian expertize to develop its energy sector.

Based on expert analysis, the committee, which will comprise of representatives of both companies as well as representatives of Government of the Republic of Srpska and Belarus, will propose the best models and forms of cooperation. The fields of cooperation will include the construction and overhaul of power plants, as well as employee training program.

Last month, ERS announced that it has achieved profit in the amount of 2.65 million euros in 2016, while its has the lowest price of electricity in the region and plans to keep the prices at the same level in the following period as well. The statement from the company said that all its subsidiaries, except coalmine and thermal power plant (RiTE) Gacko, had positive financial results in 2016, despite very unfavorable hydrology throughout the year. Surplus electricity in 2016 amounted to some 1,800 GWh.