January 26 (SeeNews) - State-owned power utility Elektroprivreda Srbije (EPS) has said it plans to invest 3 million euro ($3.7 million) in the construction of a 110/35 kV electricity substation in Arandjelovac, central Serbia.
The substation will be the second one of EPS in Arandjelovac and will reduce the loss of electricity, enabling the company to invest more, the company said in a statement after the official launch of construction works on Thursday.
Earlier this month, EPS said it plans to invest 2 million euro in the construction of a 110/35 kV power substation in Ub, western Serbia.
EPS expects to close 2017 with a profit of some 5 billion dinars ($50 million/42 million euro), state secretary at the energy ministry, Zoran Predic, said in October.
($ = 0.802312 euro)