NIS, China's CMEC unveil energy project in Serbia

At the presentation, NIS CEO Kiril Kravchenko told Serbian mining minister Milan Bacevic that the company has been awarded the rights to conduct mining and geological exploration in the area of the Kovin basin, which would be transformed into exploitation rights in case of positive findings, the mining ministry said in a statement.

Bacevic then noted that the same explorations rights on the area are currently held by Bulgarian company Eko Analiz and promised that steps will be taken as soon as possible to settle the issue.

Serbian news agency Beta (www.beta.rs) quoted Bacevic as saying also on Thursday that, if the legal issue of the exploration rights at the Kovin is resolved promptly, the construction of the thermal power plant with two units of 350 megawatts each could be expected to begin in a year's time.