Energoinvest to build Pljevlja - Čevo power line in Montenegro

Energoinvest d.d. Sarajevo signed an agreement with Montenegrin Electric Transmission System (CGES) for the realization of the Pljevlja – Čevo power line construction project, valued at over 29 million euros, reports the BiH news agency Patria.

On behalf of Energoinvest, the agreement was signed by director Enes Čengić, and on the Montenegrin side, the signatory was Dragan Laketić, President of the CGES Board of Directors.

- Our company won this contract in extremely strong international competition, and will lead a regional consortium that will build a 400 kV power line, approximately 116 km long, in extremely challenging terrain. This power line is intended to connect the north of Montenegro with the southern part, i.e., the main electricity producer in Montenegro – the Pljevlja Thermal Power Plant with the south, as well as for further interconnection via an underwater network towards Italy - the statement reads.

The power line route passes through extremely challenging mountainous terrain, and it is necessary to minimize the impact of the power line on the environment, considering the proximity of Durmitor National Park. The project is financed by the European Bank for Reconstruction and Development (EBRD), while the consultant is INTEC – GOPA (Germany). This new contract confirms good interstate relations between Montenegro and Bosnia and Herzegovina, as well as regional cooperation, and the authorities of both countries have provided support for this project - it was announced from Energoinvest.

As pointed out by Energoinvest Director Enes Čengić, by winning and realizing projects in Albania, Iraq, Algeria, Kosovo, and other markets, as well as signing a new contract in Montenegro, Energoinvest demonstrates its business vitality and positions itself as a leader in the energy sector in this part of Europe.

- On the other hand, we are facing significant problems related to the collection of payments for our completed projects, primarily in Iraq and Libya, due to the wars in those countries. Energoinvest is doing everything to keep the company stable and vital, and thanks to the construction of the Pljevlja – Čevo power line, our company will gain new references, open doors for new business in the region and other markets, and it will also provide us with a financial incentive to operate successfully - said Čengić.