China lends EFT Group EUR 350mn to build 300 MW thermal power plant in Bosnia.

By bne IntelliNews June 21, 2012
Chinas state development bank has extended a EUR 350mn loan to UK-based energy firm EFT Group for the construction of a 300 MW thermal power plant in Bosnia, the government of Bosnias Serb Republic said in a statement. The credit agreement was signed on June 20 in Banja Luka by representatives of the bank, EFT and the Republics government. EFT hired in 2010 China's Dongfang Electric Corporation to build the Stanari thermal power plant, which is estimated to cost some EUR 500mn. The signing of this weeks agreement clears the way for the investment to be launched in the next 60 to 90 days, the Republics Prime Minister Aleksandar Dzombic was quoted as saying in the statement. Stanari will be able to produce 2,000 GWh of electricity per annum. Under the project, the adjacent Stanari coal mine, owned by EFT, will be expanded.

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