Consortium APET Group of Austria to Invest EUR 800 million in the Preparation of Construction of Power Plants in FB&H

2. Oktober 2006, 00:00

Consortium Austrian Power and Environment Technology GmBH (APET) Group of Austria is the strategic partner for...

Consortium Austrian Power and Environment Technology GmBH (APET) Group of Austria is the strategic partner for the construction of power plants in Ustikolina, Vranduk, Rmanj Monastir, and Vrilo in Bosnia and Herzegovina (B&H). The consortium announced plans to invest EUR 800 million in the projects preparatory phase alone. For this project, the Consortium plans to contract B&H companies Elektroprivreda, Hidrogradnju, and metal industry factories.

APET will be in charge of planning, construction, and partial financing of the power plants construction projects, and will, in turn, get long-term electricity supply. According to the contract, B&H remains the owner of the future power plants.

APET applied for eight power plants and mine construction projects, and offered investments worth EUR 2,500 million. APET denied the competition of BMG/Kaztransgas, ENBV, and CET. All the companies that requested ownership over the power plants were rejected. Therefore, Verbund of Austria was not elected because this company requested ownership of over 51 per cent in the constructed facilities.

The Austrian Government formed Consortium APET Group eight years ago. This consortium consists of eminent banks and companies active in industry and energy sector, including Varech, Porr, Poyry, Alstom, Siemens, Voith, Alpine, and Wew, and employs dozens of thousands workers.

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