|Beneficiary Contribution||Own Contribution||€ 8,000,000|
|Total Grants||€ 6,600,000|
|Total Loans||€ 15,000,000|
The project contributes to the establishment of a Trans-Balkan Power Corridor that would connect the electricity transmission systems from Serbia, Montenegro, Bosnia and Herzegovina to Croatia, Hungary, Romania, and Italy through either 400 kV overhead lines or a submarine cable. It specifically concerns the construction of a new 400 kV transmission line between Kraljevo and Kragujevac (59.4 km) and the rehabilitation of the substation in Kraljevo to 400/220/110 kV.
These investments are needed because the existing transmission system is seriously outdated and thus prone to system failures and high operational and maintenance costs. Once complete, they will improve the security of the electricity supply for the one million residents of Zlatiborski, Moravicki, Rasinski, and Raski districts. Moreover, the new transmission line is expected to reduce EMS’s network losses by approximately 7,000 MWh/year, i.e. annual savings of around €380,000.
The Feasibility Study together with the Preliminary Designs for the project are complete. The project received a €6,6 million EU grant to co-finance the construction works in 2015. These are due to start in by mid-2019.