March 27, 2015 / 4:26 PM / in 4 years

Two firms place final bids for Montenegro power plant

SARAJEVO, March 27 (Reuters) - Montenegro’s power utility EPCG said on Friday two companies had placed final bids to build a coal-fired unit at its Pljevlja power plant.

China Machinery Engineering Corp (CMEC) offered to add a 250 megawatt (MW) unit at a cost of 326 million euros ($354 million), while Czech engineering group Skoda Praha, owned by power utility CEZ, bid to construct a 254 MW unit worth 338.5 million euros.

China’s Hubei Electric Power Survey & Design Institute, which earlier offered the lowest price to build the unit, pulled out of the race.

EPCG, 41.7 percent owned by Italy’s biggest regional utility A2A, said bids will be assessed on the basis of financial and technical aspects before a final proposal on the best bidder is passed to the EPCG board by the end of April.

EPCG has long complained about the low level of investment by A2A, while the Italian partner blamed low electricity prices. The Balkans faces an acute need for new power sources after decades of under-investment. ($1 = 0.9196 euros) (Reporting by Maja Zuvela; Editing by David Holmes)

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