Serbian coal miner Resavica to sign 8.5 mln euro loan with Czech bank - govt

The terms of the Czech loan will be agreed by the end of this year, energy minister Zorana Mihajlovic said during a visit to the Resavica mines, according to a government press release.

The 8.5 million euro loan will ensure enough financing for new investments and will enable Resavica to significantly increase its coal output, the acting director general of the company, Marko Vukovic, said.

In January, former energy minister Aleksandar Antic said that Resavica is considering the delivery of equipment by Czech machine manufacturer Ostroj for the overhaul of its Rembas and Soko mines.

In November 2016, the International Monetary Fund recommended to Serbia to take decisive action to end the drain on public resources by large utility companies and other state-owned enterprises, calling for clear plans for the resolution or restructuring of a number of companies, including Resavica.

($ = 0.822398 euro)