January 11 (SeeNews) - State-owned power utility Elektroprivreda Srbije (EPS) plans to invest 2 million euro ($2.4 million) in the construction of a 110/35 kV power substation in Ub, western Serbia, the managing director of the company, Milorad Grcic, said.
The substation, named Ub 2, will guarantee stable power supply in Ub municipality in the next 20 years, Grcic said in a video file posted on the website of Serbian news agency Tanjug on Wednesday.
The existing Ub 1 substation is not enough to fully meed demand for electricity in Ub, Grcic said.
The company expects to close 2017 with a profit of some 5 billion dinars ($50 million/42 million euro), state secretary at the energy ministry, Zoran Predic, said in October.
($ = 0.837747 euro)