Kolubara mining company will invest 750 mil euro until 2017

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Mining company Kolubara, the main coal supplier to thermal power plants, in next five years is planning to invest 150 mil euro so the mining basin company can secure the necessary 30 mil tons of coal per year needed for Serbian electricity production, stated Nebojsa Ceran the director of this company.

This investments are needed for opening the new coal pits in order to replace the existing fields D and Veliki crljeni which will be closed in five years. The investments will also be used for land acquisition, procurement of mining equipment and infrastructure objects relocation, stated Ceran on regional energy conference held in Belgrade on 27th april.

This year for this activities Kolubara will invest 100 mil euro, last year 80 mil euro was already invested and in 2013 if all loans are approved Kolubara will invest 150 mil euro and underlined the importance of opening new fields C and South field. Second big investment in Kolubara will be Radljevo coal pit for which Kolubara will need 500 mil euro just for initial phase and total investment value for this project is 1,5 bill euro.

Opening of Radljevo coal pit will secure the coal supply to new units in thermal power plants in Obrenovac and Kostolac. Even without this new units Kolubara will need this coal pit starting from 2020 and stated that this fund is still not secured but different feasibility and ROI reports are completed.

On behalf of Kolubara, Ceran also stated that Serbia need energy balance and that Kolubara does not have anything against the renewable energy sources projects.

Source Serbia-energy.com