Montenegro Government's officials meets with representatives of Italian compnay A2A

Podgorica, Montenegro (12 February 2014) – Montenegro’s Deputy Prime Minister Vujica Lazović, Economy Minister Vladimir Kavarić and Finance Minister Radoje Žugić met yesterday with representatives of the Electric Power Industry of Montenegro (EPCG) and the Italian company A2A to discuss current issues significant for the EPCG's operation as a joint venture company.

The meeting focused on the implementation of the Article 12 of the Montenegrin budget related to the recapitalisation of the EPCG, which stipulates the EPCG’s debt to be converted into Montenegro’s share capital.

The meeting also addressed the construction of Block II of the Thermal Power Plant Pljevlja and achieved a high degree of consensus on the Government’s point of view envisaging the project to be implemented according to the model that shortens implementation deadline and maximises the project’s performances.

Representatives of the Government and the A2A also discuss the issue of expected long-term price of electricity for supplying the Aluminium Plant Podgorica (KAP) in the future.

The meeting also focused on all aspects concerning the institutional framework and the existing regulations for the management of energy companies, as well as the contractual framework arising from the privatisation contracts for the purpose of their implementation.

They also discussed the EPCG’s possibilities in the construction of hydropower plants on the rivers Morača and Komarnica and agreed that the Italian partners should submit their views on possible plans for the continuation of the project as quickly as possible.