Electric power company of serbia as the biggest development investor in the country, EPS GM Markovic

, News Serbia Energy

Elektroprivreda Srbije (EPS) General Director Dragomir Markovic has stressed that the Serbian people and companies are the largest investors in EPS, because the company has funded its biggest projects with the money gained from selling electricity.

Speaking at a meeting at the Serbian Chamber of Commerce (PKS), he said the EPS’s economic power should be raised, which required a significant increase in electricity prices in the next two to three years, adding that they were currently the lowest in the region.

Almost 50 percent of contractors in the investments so far have been Serbian companies, Markovic emphasized.

According to Markovic, investments in new production capacities of EPS will help revive the Serbian economy, ensure a safe and good supply for domestic consumers in conditions of increased power consumption, raise efficiency and competitiveness of the company and boost export potential.

Prime minister’s adviser for energy Petar Skundric said up to EUR 2.5 billion of investments in the Serbian energy sector could be expected in the next four years and that domestic companies should be supported in those jobs.

EPS is the foundation of Serbia’s re-industrialization, because only by economically strengthening that company and raising investment potential is it possible to improve economic activity and employment in the country, by hiring domestic companies to revitalize and build new facilities, it was said at the PKS.

State Secretary for Energy and Infrastructure Dusan Mrakic stressed that energy was the lifeblood of Serbia’s economic development and the only branch of industry recording a 3 percent annual growth since 2008.

The Serbian energy sector has started a large investment cycle worth billions of euros, which opens new possibilities for hiring domestic companies.

Around EUR 3 billion have been invested in the energy sector in Serbia over the past four years, and EPS alone invested over EUR 500 million annualy, Mrakic noted. More than EUR 2.5 billion of investments in new facilities are needed, he stated, adding that it would create 10,000 jobs.

Source EPS