The construction works on the site of the future TPP Stanari will commence in May of this year, EFT Group announced today.

“Today we published the concession agreement for the construction and use of the TPP Stanari, thus officially completing the initial stage of the project”, EFT’s Communications Director Mr Nenad Savić has said. “On May 16, when the mine celebrates its anniversary, the second stage of the project will begin with the building of the first structure of the future Stanari mine and power complex”, Mr Savić added.

EFT has stated that the entire process is on schedule as planned, and that the construction of the 420 MW power plant is expected to be completed in the second half of 2012.  This will be the first major power generating facility to be constructed in the western Balkans in 30 years.

The investment in the mine and the Stanari TPP is the largest in Bosnia & Herzegovina’s energy sector. Total project value will exceed KM 1 300 000 000. 40% of the sum is expected to go to domestic companies involved in the project. Around 3000 new jobs will be created over the next four years.