May 3 (SeeNews) - Montenegrin state-owned power utility EPCG [MNG:EPCG] said it plans to invest about 9 million euro ($10.8 million) in the reconstruction of the Piva and Perucica hydropower plants (HPPs) in 2018 and 2019.
The company plans to invest 2.7 million euro in the overhaul of Unit 2 of Piva HPP and intends to sign a contract with an external company to carry out the works, EPCG said in a statement earlier this week.
The Montenegrin company also intends to launch a 3.56 million euro project for the modernisation of six power generators and to supply a 2.75 million euro block transformer to the Perucica plant, EPCG said.
The company aims to make investments worth 170 million euro in the next five years to enhance the safety in the operation of power plants, increase company efficiency and ensure safe customer supply and stable functioning of the country's power system, EPCG said.
The Montenegrin government is the majority owner of EPCG with a 57% stake while Italian company A2A owns 41.75%.
($ = 0.8336 euro)