Naumov said that the new substation, worth over $2.7 million, will create better conditions for the expansion of business activities and enable quality power supply to industrial facilities in the area.
He also said that Serbia's power system has been rehabilitated and revitalised, and is now dominant in this part of Europe.
Naumov pointed out that the electric power supply in Serbia has not been this stable in the past few years, adding that as for the reliability of the system and its environmental aspect, Serbia is practically in the EU already.
The European Bank for Reconstruction and Development has provided a portion of the funds for the project in the form of a loan, whereas another portion will be financed by electricity distribution company Elektrosrbija Kraljevo, who is also the contractor, said Naumov. The planned deadline for concluding the works is a year from now, he added.
The existing substation Modran was built 40 years ago and cannot be expanded or reconstructed.
On his visit to Sremska Mitrovica, the Minister was accompanied by assistants Aleksandar Vlajcic and Milutin Prodanovic and General Director of Serbian Electric Power Industry Vladimir Djordjevic.