Wednesday, September 19, 2012

Bosnia and Herzegovina: Agreements on construction and financing of HPP Ulog and TPP Stanari

Bosnia and Herzegovina: Agreements on construction and financing of HPP
Ulog and TPP Stanari have been signed in Beijing
Ekapija, 14 September 2012

Ministry of Foreign Affairs of Bosnia and Herzegovina informed the
Foreign Trade Chamber of Bosnia and Herzegovina that on 4 September 2012
in Beijing an agreement was signed on construction of the hydro power
plant Ulog on the upper stream of the Neretva river under the EPC model
(engineering, procurement and construction) between representatives of
the EFT Group and China's energy Consortium (SINOHYDRO Corporation Ltd,
Dongfang Electric and China Development Bank).

The EFT Group has gained a right to a concession of exploitation of
electricity at the site of the Neretva river where the power plant Ulog
will be built. It is planned that the works on this project, with a
total capacity of 35 MW, last 42 months. The total investment value is
60 million euros.

This is the second power building in BiH which the EFT will build with
Chinese partners and fund through the Chinese Development Bank.

Also, the letter of the Ministry states that on 6 September 2012 an
agreement was signed on funding of TPP Stanari, with a total investment
value of 550 million euros, while the evaluation of the works to be
carried out by Chinese contractors, led by Dongfang Electronic
Corporation, amounts to 350 million euros, which will also be financed
by the China Development Bank.

Editors note: Sinohydro has stated that this is its first successful
hydropower project contract bid in Europe

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