November 29 (SeeNews) - State-owned power utility Elektroprivreda Srbije (EPS) said it has invested 18.8 million euro ($22.2 million) in the acquisition of a stacker, to be operated at the Kolubara coal mine.
The stacker, manufactured by Denmark-based FL Smitdh, has the capacity to handle 12,000 cubic metres of minerals per hour and weighs 2,000 tonnes, EPS said in a statement on Tuesday.
The machine will be used at the Tamnava-Zapadno Pole pit of the Kolubara mine.
"The value of this investment is 18.8 million euro, and the execution of the project lasted about two years. EPS invests in modernisation and as the largest and most important energy company, has a secure future," the managing director of the power utility, Milorad Grcic, said in the statement.
The project is a part of an investment programme to improve the quality of coal produced at Kolubara, financed from the proceeds of a 74 million euro loan extended by German development bank KfW.
($ = 0.84507 euro)