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Kolubara negotiates with EBRD on loan of EUR 140m
Monday, 23.08.2010.
14:44
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Nebojsa Ceran, the Director General of Kolubara mining basin, said that that company was negotiating with the European Bank for Reconstruction and Development (EBRD) on the loan of 140 million euros for procurement of dredges for strip mine and machines for disposal of barren land.
Ceran specified that mining was not in the focus of interest of large creditors, but that the coal homogenization project would have positive effects on the environment (which makes the negotiating position of Kolubara easier).He assessed that that loan from the EBRD would enable Kolubara to make a huge progress because it is from the group of the most favorable and non-profitable loans, and he added that the guarantee for that loan would be issued by the Government of Serbia. Kolubara started a big investment cycle in 2010, which was promoted by putting of new mining system at Tamnava - Western Field coal mine in operation. That system is worth over 77 million euros that are provided from the loans of the EBRD and German KfW Bank, which will enable annual excavation of 12 million tons of solid mass.
About 70% of coal in Serbia is dug in Kolubara, while Kolubara's lignite is used in steam power plants TENT, TEK and Morava for production of 52% of electric energy in Serbia.
EPS Rudarski basen Kolubara Lazarevac
EBRD Evropska banka za obnovu i razvoj Beograd
Vlada Republike Srbije
KfW Bankengruppe Frankfurt am Main
KfW kancelarija Beograd