Works on the construction of a 450 MW unit at the existing Tuzla thermal power plant (TPP) in Bosnia are expected to commence in the first half of next year, if the Chinese investor, Ex-Im Bank, deems that Bosnia's Elektroprivreda BiH is capable of implementing this pricey project.
Ex-Im Bank wants to make sure that Elektroprivreda's operations are in order before signing a loan agreement, a move expected to take place in November, broadcaster FTV reported over the weekend.
EPBiH said earlier that it will finance 15% of the project, worth a total of 722 million euro, while a loan from China's Ex-Im bank will cover the remaining 85%.
In 2014, Bosnia's Federation said it had selected a consortium of China's Gezhouba Group Company Limited and Gunagdong Electric Power Design Institute as the preferred bidder for the construction of Unit 7 at Tuzla TPP.
At the time, the entity's government also said that it signed a memorandum of understanding (MoU) with Ex-Im Bank for a loan to fund the construction of the new plant.
