Chinese state company SEPCOIII most successful bidder

During the last two weeks Zenica was visited by the representatives of the Chinese state company SEPCO III, the American companies General Electric, German company Steag, the audit firm Deloitte and Touche Beijing and American audit from Washington. The companies performed financial, legal and technical audit of the company KTG Zenica and the project of Combined Heat and Power Plant (CHPP) with capacity of approximately 390 MW of electrical energy and up to170 MW of thermal energy for the purposes of heating of city of Zenica.

Once the analysis and audit were successfully conducted, the Contract on engineering, procurement and construction (EPC contract) for the CHPP Zenica was signed at the Zenica Municipality premises thus placing foundations for the beginning of the construction of the most important infrastructural project in Zenica, and one of the most important power projects in this part of Europe.
The state company SEPCO III shall complete the project in 29 months, by the “turnkey” principle and hand it over to the city of Zenica. During the negotiation process happening in the last year, SEPCO III has shown the greatest power and has offered the best bid in competition with two German companies, one Spanish and one Italian company. SEPCO III shall enter into the structure of KTG Zenica and shall be involved in the financing of the project.
SEPCO III has, up to this point, constructed many types of power facilities with total capacity of 294.000 MW, and is currently developing 16 projects all around the world. The annual turnover of this company is EUR 30 billion. This Chinese company pays special attention to the project in Zenica since it is its first entrance to the European market.
In accordance with the agreement between SEPCO III and the German company Steag, Steag shall, once the project is completed, continue to operate and maintain the plant for the following 15 years.

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