The Coal Mine will lose 48 million EUR in revenue this year due to the ecological reconstruction of the Pljevlja Thermal Power Plant (TPP), which is set to last for eight months, as announced by its executive director, Nemanja Laković.
In an interview with Dan, Laković stated that this year will not be one of results, but rather a year of survival, focusing on completing overdue projects, the ecological reconstruction of the Pljevlja TPP, and the relocation of the Ćehotina River.
“This year is one of the toughest for Montenegro’s energy sector. Resolving the ecological reconstruction of the Pljevlja TPP and relocating the Ćehotina River are crucial for the survival of Montenegro’s energy system, so the completion of these projects will be a condition for the continued stable operation of the TPP and the Coal Mine,” said Laković.
He emphasized that the financial results cannot be good this year due to the long-standing neglect of these projects and their being “swept under the rug” in previous periods.
Laković also mentioned that the company achieved its best result in Montenegro’s energy sector last year and will continue to contribute to the stability of the entire EPCG group.
“We ended the year with a positive result. We should achieve a profit of around 15 million EUR, which is on par with 2023. However, I must point out that we simultaneously conducted investment work on the Ćehotina Riverbed, which is a priority for the Coal Mine and the entire energy system of Montenegro. The profit will be the same as last year, despite the extended overhaul of the Pljevlja TPP and the investment works,” Laković said.
He also reminded that the decision to distribute dividends for 2021 and 2022 was made at the Shareholders’ Assembly.
“Any dividend withdrawal this year would destabilize the Coal Mine’s operations, but I am confident that this will be taken into account, and no dividends will be paid during this year, given the large capital investments planned for the functioning of Montenegro’s energy system,” explained Laković.
Regarding the Ćehotina River relocation project, Laković stressed that it is of the utmost national importance, as stable operations of the Coal Mine and TPP are essential for the energy stability of Montenegro.
