Successful completion of the modernization and automation of thermal power plant "Bitola 2" was observed in mining and energy combine (REK) Bitola on Wednesday.

Vice Premier and Finance Minister Zoran Stavreski officially opened the modernized bloc, saying the energy sector represents the pillar of a country's economic development, whereas stable and quality supply with electricity is the basic factor for the economy's competitiveness.

"The successful completion of the second bloc's modernization, alongside similar operations in the first and third blocs, marks the beginning of a large investment cycle by Macedonian Power Plants (ELEM), worth EUR 300 million in the next four years", stressed FinMin Stavreski at today's ceremony.

According to him, the fresh investments would result in the blocs' modernization, mines' transport system, as well as construction of new energy capacities.

"Operations are ongoing in all segments of power production, construction of new capacities such as Lukovo Pole and Boskov Most, along with activities towards stable and long-term supply of electricity from the existing capacities", added Stavreski.

Russian company Power Machines (Silovie Mashini) is the modernization and automation contractor, resulting in extension of the exploitation life for at least 120,000 working hours.

"The life of REK Bitola will be extended for about 30 years, securing the jobs of all workers, but also providing stable energy for Macedonia's economy. The Russian Federation is one of Macedonia's strategic partners in the energy field, and we expect larger sectoral investments in the future", underlined Stavreski.