Representatives of the Electric Power Industry of Serbia (EPS), an international management group and the Swedish government signed today an agreement on financing capacity expansion for power supply companies in Vranje, Leskovac and Nis, and on limited investment aimed at reducing commercial and technical losses in the electric power industry. The agreement is worth €3.1 million, provided with the assistance of the Swedish International Development Agency (SIDA).
Author:
Fonet
Serbian Minister of Energy and Mining Radomir Naumov said that this project is a continuation of similar projects carried out by SIDA in previous years.
Deputy General Director of EPS Zoran Manasijevic said that according to the agreement, the project partners committed to assist power supply companies in southern Serbia to develop and improve their work in the next three years. Launched in 2001, the project, titled SIDA 4, is a continuation of a previous partnership of Serbia and Sweden in the energy sector.
Swedish Ambassador to Serbia-Montenegro Lars Joren Engfeld said that the previous volume of financing amounted to approximately €16 million, and that the development of the relationship from previous attempts of rehabilitation of vital infrastructure has turned into a long-term partnership with the goal of Serbian integration into the regional energy market.