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Investments in Serb mining complex Kolubara to reach EUR 100mn in next five years – energy minister

February 4, 2014

Investments in Serbia's largest mining complex Kolubara are expected to reach EUR 100mn in the next five years, energy minister Zorana Mihajlovic was quoted as saying by news agency Tanjug. Mihajlovic spoke during a visit to the complex on February 2. She did not specify on what the funds are going to be spent. Kolubara mines some 30 million tonnes of coal a year, providing 75% of the lignite in the country. The output is used to fuel the Kolubara, Nikola Tesla and Morava thermal power plants, which produce 52% of the energy Serbia needs. Kolubara is the largest of the companies that operate within state-owned power company Elektroprivreda Srbije (EPS). It employs 10,000 workers. The mining complex covers an area of 600 square kilometres, located 60 km southwest of the capital Belgrade . Concerning the ongoing negotiations with the EPS Trade Union , Mihajlovic said an agreement has been almost reached and talks will continue in the following days. Negotiations started at end-January after EPS workers warned they will launch general strike as they do not agree with some of the government's new basket of austerity measures namely cutting the above-average public sector wages and freezing public sector employment in the next two years.

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Source: IntelliNews - Weekly Reports

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