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Comsar Energy signed the EPC contract with China Power Engineering and Consulting Group Corporation (CPECC)

February 1, 2013

In a world of fast-changing technology and environmental concerns, Comsar Energy is committed to providing consumers with a reliable source of power, delivered efficiently, cleanly and cost-effectively.

Since the announcement to invest in and construct the Ugljevik 3 thermal power plant project, with a total estimate value of 800 million euro, and with the full support of the Government of the Republic of Srpska, on January 31st, 2013, Comsar Energy signed the EPC contract with China Power Engineering and Consulting Group Corporation (CPECC) the largest corporation for power system planning, engineering and EPC projects in China.

The Early Work of Ugljevik 3 Thermal Power Plant moving forward steadily.

CPECC is a state-owned-enterprise under the leadership of the State-owned Assets Supervision and Administration Commission of the State Council of China. Its business scope covers power planning, electric power engineering consultation and evaluation, engineering, EPC projects and project financing and investment. CPECC provides engineering for up to 70% of the power generation, T&D projects in China and 200 overseas projects in more than 30 countries. It is a professional organization authorized by National Development & Reform Commission (NDRC) for power planning, policy research and the evaluation of thermal power, nuclear power, and power grid projects.

CPECC takes the leading position on the electric power survey & design field in China. Especially in the foremost technology such as nuclear power plant conventional island, clean coal combustion, 1,000MW ultra-supercritical units, air-cooled power plants, ultra-high voltage AC & DC power transmission, smart grid etc.

CPECC created the “Design leading EPC construction mode”, and has successfully completed the first 600MW class and 1000MW class power plant EPC project in China. In addition to the power industry, CPECC also undertook a large number of coal mining, petrochemical, municipal transportation, environmental protection smelting, housing and other infrastructure construction projects, which cover more than 30 countries and regions around the world. Since 2002, CPECC has been continuously ranked by ENR (the American Engineering News Record) in the top 200 international engineering design companies and the 225 international contractors. In 2012, CPECC also ranked the 1st appraisal for “the Top 60 Chinese Design Firms” and revenue from EPC projects in power engineering field.

In order to build a high level modern project in compliance with EU standards, after signing the contract CPECC developed a detailed and feasible execution plan for preparatory work along with Comsar Energy, and sent experienced engineers to the site to carry out geological exploration work and to collect necessary input data for design. Up to now, the geotechnical investigation report, engineering survey report and concept design has already been completed, whilst the basic design work is ongoing steadily and smoothly.

We are certain that we can complete the project successfully with the strong contractor CPECC and the full support from the government. And we believe that this capital investment from Comsar Energy is of great significance, not only for the development of the local community of Ugljevik but for the Republic of Srpska as a whole.

© Comsar Energy Group 2013

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