Serbia's EPS Plans To Start 83 Mln Euro Upgrade of Zvornik Hydro Power Plant in 2013

BELGRADE (Serbia), April 11 (SeeNews) – Serbian power monopoly EPS plans to launch a 83 million euro ($119.8 million) upgrade of its HE Zvornik hydro power plant in 2013, Belgrade-based media reported.

German bank KfW will lend 70 million euro for the upgrade with EPS picking up the tab for the remainder of the project financing, privately-held news wire Beta (www.beta.rs) quoted HE Zvornik director Milorad Dragic as saying late on Saturday.

HE Zvornik, located in the town of Zvornik, in western Serbia, is part of the Drinsko-Limske Hidroelektrane power company, itself part of EPS.

The 92 megawatt hydro power plant generates an average of around 500 gigawatthours of electricity per year, EPS data showed.

($=0.6926 euro)

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