China’s Sinohydro Withdraws from Montenegrin Hydropower Plants Tender

China’s Sinohydro has decided not to take part in a tender to build and operate under concession four hydropower plants on the Moraca river in Montenegro, Montenegrin media reported.

The Chinese investor has informed Montenegro's Economy Ministry it will not file a bid in the tender but added that it continues to be interested in other projects in the country, radio and TV broadcaster RTCG (www.rtcg.me) in the weekend quoted sources from the ministry as telling daily Vijesti.

In May Montenegro shortlisted four candidates for a design-build-operate-transfer (DBOT) concession on the Moraca river hydropower plants - Sinohydro Corporation, Italy’s ENEL, Germany’s Strabag International and a consortium led by Italy’s A2A.

RTCG also reported that ENEL and A2A are the only companies remaining in the race since Strabag announced earlier it had also decided to withdraw.

Montenegro should select the winner of the tender by May 7, RTCG said.

The four plants should have a capacity to produce a combined 721 million kilowatthours of electricity a year, enough to cover the country’s power deficit, local media quoted Economy Minister Branko Vujovic as saying in February. The power plants should be built in six years for an estimated total of 530 million euro ($698 million).

($=0.7598 euro)

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