Serbian Mine Sees Chinese, Vattenfall Agreements for Upgrades
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Thermal Power Plants and Mines Kostolac, a unit of Serbian power monopoly Elektroprivreda Srbije JP, expects the Export-Import Bank of China to approve a $344 million loan soon to finance upgrades next year.
The company, which operates a coal mine and electricity generating units about 50 kilometers (31 miles) southeast of Belgrade, also wants to win a two-year accord with Germany’s Vattenfall Europe AG to provide consultancy services and help Kostolac improve open-pit operations, Kostolac General Manager Dragan Jovanovic said in an Oct. 31 interview in Belgrade.