July 19 (Bloomberg) -- Slovenian lawmakers conditionally approved state guarantees of 440 million euros ($541 million) for the upgrade of thermal power plant Termoelektrarna Sostanj d.o.o., Delo newspaper reported, citing lawmakers in the capital Ljubljana.
The government also gave its backing to the 1.3 billion-euro project on condition the price doesn’t exceed the current estimate, Dejan Krusec, the junior minister at the Finance Ministry said, according to the Slovenian newspaper.
The project, in which France’s Alstom SA is providing the equipment, is Slovenia’s biggest energy investment with loans provided by the European Investment Bank and the European Bank for Reconstruction and Development. The completion of the 600 megawatt coal-powered unit is seen in 2016.
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