American ContourGlobal to build new thermal power plant in Kosovo

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Thermal power plant called "Novo Kosovo", will have one unit for electricity production, net power of 450 megawatts. Construction of the facility will be funded through loans and direct investments of the American ContourGlobal, electronic media in Pristina report.

It is expected the project will total EUR 1 billion.

The American company announced investments of 30% of the project amount and other direct investments will total EUR 300 m.

For other companies which will invest, the company asked for internal ROI rate totaling 21,5%.

ContourGlobal wants a return on investment within five years.

Kosovo’s Ministry for regional development communicated that agreement was signed November 10, 2015 and that it is favorable for Kosovo.

It is expected that the construction of a new thermal power plant is expected within the circle of two existing ones will start next year.

ContourGlobal is the second American company engaged in Kosovo in the biggest capital projects.