Praysman Group, a world leader in the industry of energy and telecommunications cable systems, got a 400 million Euros worth contract for setting up a sea ground cable between Montenegro and Italy.
The sea ground cable will connect the Balkans and Italy through the Adriatic sea, and thus contribute to integration with other European countries.
In this way, the Balkans market will be connected with the EU market, which increases the value of other interstate transmission lines, by increasing revenue from their exploitation for electricity transit.
In the project of sea ground connection between Montenegro and Italy, it is envisaged that the Montenegrin transmission system participates in the realization of the investment in the construction of substation worth about 20 million Euros, and they are required to build a transmission line from Tivat to Pljevlja.
The intention is to eventually build transmission lines with partners from Serbia and Bosnia leading to those States, announced the Praysman group.
The Group got the contract following a public tender announced by Terna Rete Italia company, owned by Terna S.p.A, which signed an agreement with the Government of Montenegro and the Montenegrin transmission system on establishing a sea ground interconnection between the two countries in 2010.
Terna is recapitalized Montenegrin transmission system with more than 34 million Euros and now owns 22 percent stake, while the state of Montenegro has 55 percent.
Source Serbia Energy Magazine
