Sitemap

Anglo-Chinese consortium building a thermal power plant in Loznica

Roberta Metsola Elected New President Of The European Parliament

On Tuesday, MEPs elected Roberta Metsola (EPP,...

Government Of Serbia Adopts Set Of Draft Election Laws

The government of the Republic of Serbia...

Statement By The Spokesperson On The Referendum About Constitutional Amendments

According to preliminary results, voters who went...

Serbia Votes ‘Yes’ To Judiciary Constitution Changes

The Republic Electoral Commission held its second...

Schneider Electric Recognized In Corporate Knights’ Global 100 For The 11th Year In A Row

Schneider Electric, the leader in the digital transformation of energy management and automation, has earned its place in the...

Philip Morris Awarded “Top Employer” Certificate For the Seventh Year in a Row

For the seventh time in a row, Philip Morris Serbia has been awarded the “Top Employer Serbia 2022” Award...

UK Lifts COVID Restrictions, Says Omicron Wave ‘Has Peaked’

Face masks will no longer be mandatory in public places and COVID-19 passports will be dropped for large events...

Djokovic Bets On A COVID Cure As He Quests For Tennis History

The pandemic has blocked Novak Djokovic's march to tennis history, so the 34-year-old may be pinning his hopes on...

Realisation Of Project “EU For Green Agenda In Serbia” Begins

Prime Minister Ana Brnabić and the European Union (EU) Ambassador to the Republic of Serbia Emanuele Giaufret presented today...

The Anglo-Chinese consortium of the British company Scarborough Group International and the state-owned Chinese company China National Electric (CNEEC), has signed an agreement on the construction of a thermal power plant/heating plant in Loznica worth EUR 230 million.

According to the agreement, the construction of a facility with 240 MW of capacity will be fully put in charge of CNEEC, and the first phase of the project (120 MW) might start at the end of 2016, after the Government greenlights the project, and be completed by the end of 2018, the consortium announced.

The second phase (the remaining 120 MW) should start a year later.

The consortium has also received the financial support by the China Development Bank, and the Chinese insurance company Sinosure has also shown interest in participating in the project.

The aim of the project is to transform old fossil-fuel power plants into eco-facilities, and, as stated in the announcement, the project will bring numerous benefits to Serbia, among other things the employment of over 150 workers, a huge stimulus to the local economy, the strengthening of a strategic bond between China and Serbia, reducing the dependence on the import of electric energy and improving energy safety.

The project doesn’t require state guarantees, as this is a private investment of the Anglo-Chinese consortium together with the China Development Bank, the announcement clarifies.

– After several years of hard work, we are now very close to realizing the project. This wouldn’t be possible without the vision and the perseverance of the Chinese and the Serbian governments and hard work of their competent ministries and state-owned enterprises, the cooperation between the Chinese and the Serbian embassies, and, of course, the support by the mayor and the municipality of Loznica – stated the president of Scarborough, Kevin McCabe.

– These agreements are a turning point, as they open the door for even bigger cooperation between Serbia and Chine, especially with our partners, like Scarborough. In addition to that, CNEEC will work on improving the local economic growth and the development of clean energy in Serbia – stated the vice president of CNEEC, Liao Shengsong.

The British company Scarborough took over the Loznica project several years ago as part of the privatization process.

Kevin McCabe founded Scarborough in 1980. Today, it is one of the most active private real estate companies based in Britain and it realizes projects and owns and sells real estate throughout England, Scotland, Wales and Northern Ireland.

Related Articles

Mayor: Vidoje Petrović

City Of Loznica

Loznica is a city located in the Mačva District of western Serbia. It lies on the right bank of the Drina river. Loznica covers...

Overview

New Investment Cycle for Regional Interconnection and the Faster Development of Serbia

About 300km of highways have been constructed and more than 500km of railway lines have been restored over the course of the last four...

Vidoje Petrović, Mayor of the City of Loznica

We Invest in Everything that Has Potential

The investments of China's Mint and American-Belgian concern Adient, the announced arrival of Rio Tinta and the opening of a business hotel represent huge...

Vidoje Petrović, Mayor Of Loznica

We’re Building a Smart City

Smart technologies have brought benefits to Loznica residents in the areas of traffic safety, car parking, green energy etc Underway at present is the replacing...

Vidoje Petrovic, Mayor Of Loznica

First In Serbia To Update Address Register

Loznica is not reducing the pace that brought it the title of the fastest-growing local self-government in the provision of eServices. The City, which...

The Anglo-Chinese Consortium Building a Thermal Power Plant in Loznica

The Anglo-Chinese consortium of the British company Scarborough Group International and the state-owned Chinese company China National Electric (CNEEC), has signed an agreement on...