Serbia Says Bulgaria's Corpbank, Partners Eye Local Energy Projects

Tuesday, 11 February 2014

The Serbian energy ministry said on Monday Bulgaria’s Corporate Commercial Bank [BUL:6C9] is interested in investing alongside partners in local thermal power projects.

The Bulgarian investor is eyeing the projects for the construction of the Stavalj and Despotovac thermal power plants (TPPs) and for a new unit at the Morava TPP, the ministry said in a statement issued after energy minister Zorana Mihajlovic met with the lender's supervisory board chairman Tsvetan Vasilev in Belgrade to discuss potential investments.

Vasilev was leading a delegation comprising experts from the mining and energy industries.

The statement added that talks will be held in parallel with all investors interested in the Stavalj thermal energy and coal mining project, which includes firms from the Czech Republic and China.

Last week, the Serbian government adopted a decision to set up a task force for the implementation of the Stavalj project. The team will explore the opportunities and the strategic partnership options for the restructuring of the Stavalj mine and the possible construction of a 300 megawatt TPP.

As of the end of 2013, Corporate Commercial Bank, Corpbank, was the fourth largest among Bulgaria's 24 locally-registered lenders and branches of six foreign-based banks.

Source: SeeNews
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