Serbs Sign $716 Million Coal Plant, Mine Deal With CMEC
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China Machinery Engineering Corp. signed a $716 million deal to build Serbia’s first new coal-fired power plant unit in 23 years and expand a mine as the Balkan state seeks to replace communist-era infrastructure.
The unit planned at Serbia’s Kostolac plant east of Belgrade and the expansion of the Drmno open-pit lignite mine will be 85 percent funded by the Export-Import Bank of China, Dragan Jovanovic, general manager of Thermal Power Plants and Mines Kostolac, said in Belgrade today.