First Deputy Prime Minister and Minister of the Interior Ivica Dacic said  that Serbia's energy sector and state energy company Elektroprovreda Srbija (EPS) should remain in majority state ownership and that in this field it is necessary to enter into strategic partnerships and make recapitalisation in order to develop the domestic energy sector.

Speaking at a ceremony which marked putting into operation the second revitalised power unit of the hydro electrical power plant "Bajina Basta," Dacic expounded that keeping energy resources in majority state ownership does not mean that the state should have a monopoly in this area, but some degree of control.

Our future is to invest in the energy sector because that is our most important resource that participates significantly in the gross domestic product (GDP) of the country, Dacic explained.

He noted that modernisation of “Bajina Basta," in which €77 million will be invested, is an important development project for Serbia’s economic growth.

Taking foreign loans for such projects is done for the purpose of development, the First Deputy Prime Minister added.

After being fully modernised, "Bajina Basta" will have the capacity of 420 Megawatts, and its expiry date will be extended by 30-40 years.

The ceremony was attended by Minister of Infrastructure and Energy Milutin Mrkonjic, Advisor to the Serbian government's Prime Minister for Energy Petar Skundric, CeO of EPS Dragomir Markovic, as well as other state and local officials, investors and contractors.