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Prime Minister of the Republika Srpska Witnessed CGGC’s Signing of the RMB1.7Billion Hydropower Order in Europe
Date:2020-05-09 VisitCount: Font size:[ L M S ]
On May 4, CGGC signed an EPC contract for the Dabar Hydropower Project with Dabar Power Company, a subsidiary of Power Company of the Republika Srpska, in Trebinje, with a total amount of about RMB 1.7 billion, successfully making its presence in the European hydropower market. This is a major achievement for CGGC to give full play to its professional advantages as a global leading hydropower player, actively expand the high-end market, drive China and the Central and Eastern European countries to work together in the fight against the epidemic, promote the common development and inject new impetus into the "17 + 1" energy cooperation.

During the special period of epidemic prevention and control, the Prime Minister of the Republika Srpska Radoan Viscovici, Ambassador Ji Ping of the Chinese Embassy in the Republika Srpska, and Counsellor Xie Yu witnessed the signing through video connection. General Manager of Power Company of the Republika Srpska Luka, General Manager of Hydropower Company of Dabar Zubac, and Party Secretary and Chairman of CGGC International Lyu Zexiang, Deputy General Manager Xin Zongyi, representatives of principals from International Department IX, Three Gorges Construction Company and Office of the Republika Srpska attended the signing ceremony.

In his speech, Prime Minister Radoan Viscovici welcomed the participation of Ambassador Ji Ping and other guests, and congratulated CGGC on the successful signing of the project contract. He said that after many years of planning, the contract on Dabar Hydropower Project has finally been concluded successfully, which is of great significance to the Republika Srpska. The Project is a people's livelihood project long expected by the people of the Republika Srpska. While promoting the social and economic development of the Republika Srpska, it will greatly promote the economic development of the surrounding areas. He hoped that the Power Company of the Republika Srpska and CGGC will continue to work together to make adequate preparations for the commencement of the follow-up projects. And he looked forward to meeting with all parties when the epidemic is fully contained, to jointly promote the project and make new progress.

Ambassador Ji Ping said in his speech that this year marks the 25th anniversary of the establishment of diplomatic relations between China and the Republika Srpska. China will unswervingly deepen international cooperation and, on the basis of the principle of extensive consultation, joint contribution and shared benefits, work together with friends from all countries, to stabilize employment, enhance people's livelihood and promote economic development. The signing of the Dabar Hydropower Project is another fruitful result of the cooperation between the two sides, and serve as the best evidence of the integration of benefits in an era of globalization. The two sides have jointly sent a positive signal to the world to stabilize economy, greatly enhancing the morale to restore economy following the epidemic outbreak. It is hoped that CGGC will give full play to its professional advantages, present high-quality projects and contribute more to the diplomatic relations of the two sides.


Scene of the Signing Ceremony

In his speech, Luka, General Manager of Power Company of the Republika Srpska, and Zubac, General Manager of Hydropower Company of Dabar, said that the Dabar Hydropower Project plays an important role in the socio-economic development of the Republika Srpska and its surrounding areas, and the project cooperation will further shorten the distance between the two countries. They hoped to continue to work with CGGC to build the Project into a demonstrative project for cooperation between China and the Republika Srpska.

Party Secretary and Chairman of CGGC International Lyu Zexiang expressed his sincere thanks to Prime Minister Radoan Viscovici and Ambassador Ji Ping for attending the signing ceremony. He said that, the signing of this project gives CGGC, a world leader in the hydropower industry, an important opportunity to play a professional role in hydropower construction in the Republika Srpska. During the implementation of the Project, CGGC will work closely with all parties to promote the construction of projects with high standards and high quality, and actively protect the local environment. Meanwhile, he expressed the willingness to engage more in the construction and promotion of power and energy resources in the Republika Srpska, promote the sound economic development of the Republika Srpska and its surrounding regions, and make contribution to the recovery of world economy.


Project rendering

Located in the Trebinje Area of the Republika Srpska, the Project mainly focuses on the design, procurement and construction of all facilities of the 160 MW run-of-river hydropower station, adopting the buyer's credit financing mode of EPC + F. After completion, it will effectively alleviate the power shortage in the region and become a strong engine for the economic development of the Republika Srpska.

Under the framework of the “Belt and Road” Initiative and the China-Central and Eastern Europe Cooperation Mechanism, China and the Republika Srpska. have worked together to build a broad cooperation platform in education, media, agriculture, energy and other fields, and even the outbreak of COVID-19 failed to shake the enthusiasm of the two sides. As a major people's livelihood project in the Republika Srpska, the Project represents an important achievement of the "17 + 1" cooperation between China and Central and Eastern Europe, which will greatly enhance the economic and trade cooperation between the two countries and receive high attention from both governments. The Project is also another major breakthrough made by CGGC in European market after signing the project of Unit 7 of Tuzla Thermal Power Station in the Republika Srpska, realizing the "double power generation" and the rolling development of hydropower and thermal power in the country, and continuously boosting the green and low carbon development of energy system in the Republika Srpska and even the Central and Eastern Europe.

As one of the leading enterprises of China's "Going Global" progress and the "Belt and Road" construction, CGGC has made international business presence in 142 countries and regions around the world, and has undertaken the construction of a number of major hydropower projects with global influence, such as the Kongla Hydropower Station in Argentina- the largest hydropower station in South America and the Kaikai Hydropower Station in Angola- Africa's largest hydropower station, continuously consolidating its leading position in the hydropower industry worldwide. CGGC will actively carry out the concept of green development, continue to give full play to its professional technical advantages of hydropower construction, build the Dabar Hydropower Project into a benchmark project for cooperation between China and the Republika Srpska, continuously consolidate the foundation of economic and trade cooperation between the two countries and facilitate the "17 + 1" cooperation between China and the Central and Eastern Europe to better benefit the people of the two countries.

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