Serbia hopes to attract China to USD 700mn power plant project.

By bne IntelliNews September 28, 2012
Serbia is interested to implement together with China the second phase of a mine pit extension at the Kostolac thermal power plant as well as the construction of the plant's new unit worth USD 700mn, Serb PM Ivica Dacic was quoted as saying in a government statement. The statement was issued following Dacic's meeting with a delegation of China Machinery Engineering Corporation earlier this week in Belgrade. The Kostolac project could be implemented with the financial support of the Chinese government as part China's multibillion investment cycle aimed at supporting projects in 16 countries in central and southern Europe. Earlier this week, Serb finance minister Mladjan Dinkic met representatives of China's Eximbank, asking them on behalf of the Serbian government for a EUR 850mn long-term credit agreement, aimed at financing roads construction in the Balkan country. According to local media reports, the loan could be extended on 18 years, while China's Shandong Hi-speed Group would be the most likely contractor on the motorway construction projects.

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