EFT News

Wednesday, April 16, 2014
Loan Agreement for the Stanari Mine Signed Today

Stanari, April 16, 2014 – The Facility Agreement for a long-term loan for the purchase of the equipment needed to increase lignite production was signed today between Sberbank and EFT - Mine and Thermal Power Plant at the headquarters of the Stanari Mine.

The Sberbank loan, totalling EUR 15.35 m, will be used for the purchase of the system for the transport of lignite from the mine to the future thermal power plant, whose construction is under way. Lenders include Sberbank ad Banja Luka, Serbia Sberbank ad, Belgrade, Sberbank dd, Zagreb, and Sberbank BH dd Sarajevo.

The belt conveyor system with primary crusher will be purchased from the German manufacturer FAM Magdeburger Förderanlagen und Baumaschinen GmbH. It will connect the mine with the power plant, ensuring its regular supply with coal. Some 2.5 km long, the system will transport 2.5 m tons of coal per year, 2.5 times more than what is produced today. The capacity of the conveyor, whose belts are 1,200 mm wide, is 1,000 tons per hour, at the speed of 2.8 m/sec. It will take 11 months to put the system together, and the works will start in July 2014. The assembling of the system and its subsequent handling will generate 32 new jobs.

The bulk of the Stanari project’s cost of EUR 560 m is covered through bank loans – EUR 385 m, while the remaining EUR 175 m, or 30% comes from the capital of the EFT group. The main lender is China Development Bank, and additional funds will be provided through loans from local and regional commercial banks. 

TPP Stanari, whose construction began in 2012, will have a designed capacity of 300 MW and annual production of 2 m MWh. Commercial operation is scheduled for the second half of 2016. This is the first TPP in Bosnia and Herzegovina to be built in line with European Union directives on environmental protection.