EBRD mulls lending up to EUR 65mn to Montenegro's power grid operator CGES.

By bne IntelliNews February 27, 2012
The EBRD considers providing syndicated loan of up to EUR 65mn to Montenegro's electricity transmission company Crnogorski Elektroprenosni Sistem (CGES), the EBRD announced. The funds are intended to upgrade the power network in the country and build electricity transmission infrastructure, linking Montenegro with Italy. The project includes construction of a new substation at Lastva on the Adriatic coast, strengthening of the existing network around Lastva, and construction of a new 155km 400kV line from Lastva to Pljevlja in Northern Montenegro. The total cost of the project, which is linked to the planned construction of an undersea cable from Italy to Montenegro, is estimated at EUR 105mn.

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