June 22 (SeeNews) - Serbian blue-chip civil engineering group Energoprojekt [BEL:ENHL] said it has signed a 4.43 million euro ($4.95 million) contract with state-run power utility Elektroprivreda Srbije (EPS) for supervision services in the construction of a third unit in Kostolac B coal-fired power plant.
The deadline for the completion of the project is 60 months starting from the middle of 2017, Energoprojekt said in a filing with the Belgrade Stock Exchange on Wednesday.
Energoprojekt signed the contract via its subsidiary Energoprojekt Entel.
The construction of the unit is a very complex process consisting of 14 phases, with total investment projected at $715 million, the managing director of EPS, Milorad Grcic, said in December.
The project for the construction of a 350 MW unit in Kostolac B was launched on January 4 when EPS made an advance payment to the contractor, Chinese company CMEC, in accordance with a deal signed in November 2013.
The 700 MW Kostolac B is part of power production and coal mining complex TE-KO Kostolac in eastern Serbia, which also includes the Drmno open-pit mine. TE-KO Kostolac operates another thermal power plant, Kostolac A, with an installed capacity of 310 MW.
($ = 0.895202 euro)