Milano: Government of Montenegro and Italian company A2A committed to reaching compromise on functioning of EPCG

Milano, Italy (17 March 2015) – On behalf of Montenegrin delegation, Deputy Prime Minister Vujica Lazović met with President of the A2A Giovanni Valotti and Chief Executive Officer Luca Valerio Camerano for talks on reaching a joint solution on the functioning of the Electrical Power Industry of Montenegro (EPCG) in the coming period.

Regardless of the negotiations’ outcome, which is aimed at continuation of the cooperation, Montenegro's government and A2A will jointly run the company as the largest individual stakeholders, but only if the two sides reach the agreement on the construction of the Second Block of Thermo Power Plant in the municipality of Pljevlja. In that regard, joint management over the EPCG will be continued after April 1st and conducted in accordance with the Montenegrin Law on Business Organisations.

During various negotiation rounds, the Montenegrin delegation set up focus on development projects, as a precondition for extension of the agreement.

The delegation emphasised that the participation of the Montenegrin Electrical Power Industry in a larger number of investments is crucial for Montenegro, particularly when it comes to the construction of the Second Block of Thermo Power Plant.

The meeting also discussed the activities on finding a third partner who will, along with the EPCG, take part in the construction of the Second Block of Thermo Power Plant Pljevlja. The officials exchanged information about offers filed by various companies from Turkey, China and Slovakia willing to participate in the implementation of the project and the requirements they need to meet in order to establish a partnership in this project.

The intensive communication will be continued in order to reach a model of cooperation which will enable crucial principles presented by both sides during the negotiation process to be respected, the meeting concluded.