China Machinery and Engineering Corp. has commenced the construction of the 350 MW Kostolac B-3 supercritical coal-fired unit (Kostolac B facility, Serbia). Kostolac-3 is expected to be commissioned in 2020 and will be supplied by the neighbouring Drmno open-pit coal mine. The construction of the new unit is expected to cost US$613m (€520m) and is part of the second phase of the US$715.6m Kostolac B overhaul project, which also includes the increase of Drmno's coal output capacity from 9 Mt/year up to 12 Mt/year. 80% of the funding will be provided by Export-Import Bank of China through a 20-year loan, while the Serbian government will secure the rest of the funds.
The Kostolac B facility is operated by national power utility Elektroprivreda Srbije (EPS) through its subsidiary TE-KO Kostolac and already includes two units. TE-KO Kostolac operates two power plants, the 310 MW Kostolac A, and the 700 MW Kostolac B facilities. The company has already completed the first US$300m phase of the overhaul project, the upgrade of Kostolac B-1 and Kostolac B-2 units.
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