EFT News

Thursday, October 23, 2008
EFT completes new management building for the Stanari power - plant complex

The new management building at the Stanari energy complex was opened today, five months after the beginning of construction works. The 1600 square meter building represents the first completed object of the new energy complex, at the centre of which will be the state of the art MW 410 Stanari lignite fired power plant. 

“As we have announced in May of this year, the building has been completed in five months. Since EFT took over the Stanari mine, we have invested over EUR 35 million in this project. I am pleased that the project is developing according to plan” said Vuk Hamovic, EFT Group president. 

Since the Stanari mine was privatized in May 2005, the first phase of the project has successfully been completed and the second phase is now under way. The existing machinery has been revitalized, while modern new machines and computer equipment have been purchased. This has enabled record results in coal exploitation and international ISO standards to be achieved in the fields of quality control and environmental protection. 

Preparatory works for the Stanari TPP have also been completed. All the necessary permits have been obtained (including the environmental and building permit), while 11 leading consultants from six different countries have so far been engaged in the fields of technical, environmental, financial and legal aspects of this project. 

“The preparatory works on the location of the TPP Stanari are well under way. Recently we called two international tenders for the procurement of new equipment at the mine, which will enable us to excavate over 3 million tones of coal per year. In addition, we are negotiating with the European Bank for Reconstruction and Development (EBRD) about their participation in the project, while the negotiations with a potential ECS contractor are in the final stages” said Hamovic and added that “the TPP Stanari will be the first major electricity producing capacity in the former Yugoslavia to come on line in the last thirty years”. 

The total value of the project will exceed EUR 650 million. At the planned capacity the plant will produce over GWh 3000 annually, which represent over a quarter of current energy output of Bosnia and Herzegovina.