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Škoda Praha's Pljevlja II contract terminated

December 31, 2017

After several months of delays and problems with closing the financial construction of the Pljevlja 2 project, the Montenegrin Government cancelled the agreement on strategic partnership with Czech based Škoda Praha. Škoda Praha failed to ensure the required 85% of financing through the Czech export bank. After trying to close the financial construction with the help of Bank of China and after selecting General Electric as the unit's EPC provider, Škoda Praha did not manage to successfully continue the project. As reported, this does not mean that EPCG will shelve the project just yet. In the meantime, it was decided to begin the reconstruction of Unit 1 of TPP Pljevlja. An investment estimated at €40 million would be funded by solely EPCG..

 

Source: Poslovni dnevnik

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