NIS Attends the Presentation of Key Projects in the Energy and Environmental Protection Field

December 17, 2012

On Friday, December 14, in Belgrade, the minister of Energy, Development and Environmental Protection of Republic of Serbia, Zorana Mihajlović, presented the key projects in the energy and environmental protection field, in which between 7 and 12 billion euro shall be invested. The event was attended by NIS CEO Kirill Kravchenko, the Ambassador of the EU Delegation of the European Commission to the Republic of Serbia, Vincent Deger, Minister of Regional Development and Local Government, Verica Kalanović, and the president of the Foreign Investors Council in Serbia, Costin Borc. Kirill Kravchenko presented the key projects of NIS for the next three years. He said that the modernisation of refining facilities enables the implementation of the regional development strategy. Next year NIS will export EUR 400-million worth of European Union standard fuel to the region, and by 2015 it will have 800 petrol stations in 6 countries in the region. Two million tons of fuel produced in Serbia shall be sold at these petrol stations. In the next three years, the company will invest 500 million euro per year in the development of all business activities. NIS CEO announced that a new phase in revamping of the Pančevo Oil Refinery, worth several hundred million euro will take place, and that the Company will invest in the Novi Sad Oil Refinery base oils programme. NIS is expanding its business activities in the field of energy, and some of NIS's projects were recognised as national priorities of Serbia, said Kravchenko. NIS plans to invest in 450-megawatt thermal power plant - heating plant in Novi Sad, planned for revamping next year, as well as an investment worth 250 million euro in a thermal power plant - heating plant in Pančevo, which should be completed by the end of 2015. NIS will invest one billion euro in the Kovin coal mine and the erection of 700-megawatt thermal power plant. NIS is the first in Serbia to start investing in wind farms. 160 million euro will be invested in 102-megawatt wind farm "Plandište". The construction permit has been issued and the works are expected to be completed by the beginning of 2014. Apart from this, the company plans to invest in geothermal energy sources and other renewable energy projects At the end of his presentation, Kirill Kravchenko reminded the present experts of good cooperation with the ministry in the past and expressed his belief that the projects NIS is planning will be completed together with the Serbian government and the ministry. The event was attended by the diplomatic corps in Serbia, government representatives, and representatives from international institutions, business associations, and a large number of companies and banks.