Chinese Poly Group interested in investing in Montenegro's energy projects

Podgorica, Montenegro (16 September 2014) -- China's "Poly Group Corporation" is willing to make a contribution to the implementation of major energy projects in Montenegro, namely the construction of hydropower plants on rivers Morača and Komarnica, as well as the thermal power plant “Maoče”, today’s meeting between the company’s representatives and Montenegro’s Economy Minister Vladimir Kavarić concluded.

Poly Group’s Vice President Dai Ning noted the corporation is familiar with the idea of building hydro and thermal power plants, as well as with Montenegro's plans to export electricity, and it is interested in contributing to the projects' implementation, along with appropriate loan support from Chinese banks, Mr Ning stressed.

Economy Minister Kavarić said that energy is one of huge comparative advantages of Montenegro and informed his guests about the project to build an undersea energy cable between Montenegro and Italy, as well as the current status of the project Block II of Thermal Power Plant Pljevlja. The meeting also discussed the construction of wind turbines and small hydro power plants.

"I would like to refer in particular to the projects of hydropower plants on rivers Morača and Komarnica, and the thermal power plants “Maoče”, on which implementation we will decide after we get concrete proposal from investors. In that regard, we are open to any discussion as far as these projects and the way of their implementation are concerned," Minister Kavarić explained.

Montenegro’s government has been already coperating with China’s Poly Group in the field of transport. For the purposes of the Montenegro Shipping company, the corporation built two cargo ships which already sail, and the handover of two more cargo ships for the Bar Shipping is expected soon.