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Post by radovic on Nov 9, 2007 13:09:32 GMT -5
Montenegro: Power enterprise to prepare for London exchange 9 November 2007 | 18:13 | Source: Mina PODGORICA -- Montenegro gave its power provider green light for investment plan and preparation for LSE listing.
The Government of Montenegro has entrusted the state-owned Electric Power Industry of Montenegro (EPCG) with preparing the programs and plans for share capital increase, aimed at providing conditions for making investments in the next two years, and at the same time prepare itself for the London Stock Exchange.
At the meeting of EPCG representatives, the Ministry of Economic Development and the Ministry of Finance, it was agreed that EPCG should define programs and plans for activities that relate to preparation of tender documents for construction of the second block of the Thermoelectric Power Plant in Pljevlja, worth about EUR 170mn.
EPCG should also prepare plans for use of existing resources, further reduction of losses, increase in collection rate and collecting of outstanding debts of EUR 100mn.
The company is also expected to intensify the activities relating to harmonization with obligations under the Agreement on establishing of the Energy Community.
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