Energy Financing Team, an Anglo- Swiss energy trader and investor, received the first loan tranche from the China Development Bank for the construction of a 300 megawatt power plant in Bosnia-Herzegovina.
The disbursement of 90 million euros ($119 million) of the 350 million-euro loan will allow the company, active in eastern Europe, to start the construction of the Stanari plant near Doboj in northern Bosnia, Nenad Savic, a director at London- based EFT, said in a phone interview. EFT will invest 190 million euros of its own funds in the plant and a nearby coal mine, he added.
The new coal-fired plant, the first in the western Balkans in almost three decades, is due to be completed by early 2016, with total cost estimated at more than 500 million euros, Savic said.
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