Republika Srpska: UK Co EFT Group in the “Stanari” invested 265MEUR since 2005 to 2014

Published on 13. May 2014., SEE Energy News

The director of “EFT Mine and TPP “Stanari” Ivica Jakovljevic explained that the company since 2005 has invested in the construction of thermal power complex total of 265 million euros, of which 115 million of its own funds and approximately 150 million euros from credit of the China Development Bank.

Jakovljevic said that this investment was not significant because of the invested funds, but because of the impact of the city of Doboj and the Republic of Srpska as well.

– It was not easy to invest these amounts for each foreign investment implies the initial refusal of the local community – Jakovljevic said.

He pointed out that the EFT proved itself as socially responsible company with 540 employees with regular income and stimulations for performance.

Jakovljevic emphasized that the project of the construction of thermal power complex, which consisted of three parts, was executing in agreed deadlines.

The Mine is at the level to deliver 2.5 million tons of coal with total quality control, which will allow stable operation of power plant when in 2016 commercial operations start – Jakovljevic said.

Director Jelica Grujic in FIPA noted that BiH couldn’t boast of a good business environment, and that was the purpose of that meeting to establish two-way communication with investors whose inputs would have affected the adjustment of laws and regulations.

Grujic noted as the most common complaints of investors, a long and bureaucratic procedures from the companies’ foundation to their closure, a “forest” of regulations that are sometimes in collision with each other, as well as the personal relations of individuals in meeting their obligations.

Head of Customs Policy and the free zone of the Ministry of Foreign Trade and Economic Relations Milenko Pandurević said that the institution was trying to ensure that the legal privileges and benefits for investors were being properly applied and were uniformed in Bosnia-Herzegovina.

Power TPP “Stanari”, with installed capacity of 300 megawatts, is one of the largest investments in the energy sector in BiH.

Thermal power plant “Stanari” will use the latest technology and will produce about two million megawatt-hours of electricity. This TPP will be the first in the country, which would fully operate in accordance with EU directives on environmental protection.

Source; Serbia Energy See Desk