Montenegro, Italy to build EUR 720mn underwater transmission line.

By bne IntelliNews February 4, 2010
The governments of Montenegro and Italy are to launch an investment project worth EUR 720mn, local media reports. PM Milo Djukanovic will head a government mission, which will meet in Rome with an Italian delegation headed by PM Silvio Berlusconi on Saturday (Feb 6). The project is for connecting the electricity networks of the two countries through an undersea cable with capacity of 1,000 MW. The preliminary contact foresees that the cable will be placed between Tivat and Pescara . The project will be implemented by the Italian company Terna and its local peer Prenos, which has been recently established by the transmission unit of power utility EPCG. The project will be financed entirely by the Italian side. Terna is to acquire 22% stake in Prenos through a EUR 30mn recapitalisation, to take place by the end of the year. The project should be implemented by 2013.
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