Serbia will invest about 9 billion euros (12.81 billion U.S. dollars) in power plants in the next five to seven years, Serbian Minister of Energy and Mining Petar Skundric said on Tuesday.
Opening the works on revitalization of the Bajina Basta power plant in western Serbia, Skundric said that 5 billion euros (7.12 billion dollars) would be invested in building new power plants and 4 billion euros (5.69 billion dollars) for revitalization and maintenance of existing ones and for environment protection, the official Tanjug news agency reported.
Skundric also thanked Germany and Austria for their assistance to development projects in Serbia.
The revitalization of the Bajina Basta power plant, costing 65.5 million euros (93.26 million dollars), is to be completed in 2013. Thirty million euros (42.71 million dollars) were provided by the German government and the rest by Serbian power industry.
The project will be carried out by Austrian company Andriz Hydro and several Serbian companies. It will raise the plant's capacity from 368 megawatts to 422 megawatts.
Source:Xinhua
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