Croatia's HEP eyes 25.3 bln kuna (3.35 bln euro) 4-yr investment push - media

HEP, which imports 4.0-6.0 terawatt-hours of electricity per year, also plans an additional 2.1 billion kuna in investments in the revitalisation of existing facilities that will raise installed capacity by 155 megawatts (MW), news daily Poslovni Dnevnik (www.poslovni.hr) reported on Monday, quoting HEP boss Zlatko Koracevic.

According to the official, HEP expects a positive financial result this year despite the loss of 350 million kuna posted through June.

The power utility is planning to invest 12 billion of its own funds in the announced projects while the remaining 13.3 billion kuna will be financed with loans and through strategic partnerships. This year's planned investment program of 3.0 billion kuna was realized at only 70%.

The projects for the coal-fired Plomin-C thermal power plant and the Ombla hydro power plant, with estimated cost of 6.0 billion kuna and 1.12 billion kuna, respectively, are progressing according to schedule and construction works should start by April 2013, the official said.

HEP group (www.hep.hr) owns and operates over 4,000 MW of installed generation capacity and 974 MW of heat production capacity, including 25 hydroelectric plants and eight thermal power plants fired by oil, natural gas and coal.

(1 euro=7.5338 Croatian kuna)