Bosnia/Republika Srpska: TPP Ugljevik business results in 2013 positive, power generation plans accomplished

, SEE Energy News

Mine and Power Plant / RiTE/ “Ugljevik”, member of Power utility holding ERS, marked positive financial results last year, achieving revenue of about 75, 5 MEUR, while expenditures amounted to about 74 MEUR.

The Shareholders Assembly of TPP “Ugljevik” has adopted report on business of this electricity company in 2013th, at which Cvjetko Stojanovic was elected for the new president.

Director of TPP “Ugljevik” Ziko Krunic was satisfied with the business in 2013th as it was completed a production plan in the mine and power plant.

“We are satisfied with realized overburden plan in an amount of about nine million tons, and coal production, which was slightly less than two million tons”, said Krunic and added that the electricity production was according to the plan of approximately 1,600 megawatts.

Krunic pointed out that the company failed to achieve significant investment procedures, and stated that he realized a very important project financed from its own resources. “It is a management automation of TPP unit”, explains Krunic.

RiTE Director is satisfied with renewed mining machinery, which is very demanding and costly. “We also succeeded in the financing in order to keep up with the times when it comes to training the work unit Mine”, said Krunic.

According to him, RiTe would not succeed do it all by itself, namely if it is not a part of “Electric Power Industry of Republika Srpska” and if there was not a support of line ministries and the Government of Republika Srpska all the time.

“Together with our parent company, the Government has followed our activities, secured the appropriate approval of our decisions on the investment operations, which are slightly smaller than about 15 MEUR”, said Krunic.

He noted that the gain was about 1, 5 MEUR, which was distributed on donations as before. He noted that approximately 1, 1 MEUR was set aside on this basis in 2011th and 2012th.

Krunic stressed that these funds were sent throughout Republika Srpska, where it was necessary, so that this company had a lot to be proud of, while in this year, as he said, it has special challenges.

He noted that they had extended regular annual overhaul because of the problems in the Thermal power plant. “This is an emergency breakdown, which significantly extended the overhaul and on that basis we will have a problem to achieve all this year, because we had a loss of 7, 5 MEUR”, said Krunic.

When it comes to investment activities, he announced that he would not even stop either in the Mine or in the Thermal power plant, because it was of great importance for future profitable operation according to the standards that would be required of such facilities.

According to him, the realization of the installation or replacement of electrostatic precipitators is underway, the investment worth of about10 MEUR. Krunic noted that this investment was in connection with the desulfurization project, which should start from 2016th.

Public procurements of mining machinery also are planned.