Officials of the Ministry of Infrastructure and Energy and the Czech company Alta from Brno signed on Wednesday statements on business and technical cooperation in revitalizing mines and building the Stavalj power plant, worth a total of EUR 650 million.

The statement was signed by Minister of Infrastructure and Energy Milutin Mrkonjic and Alta's financial director Jaroslav Zapletal.

The project includes the construction of a new thermal block, Stavalj, on the Pester plateau, 350 MW strong, with a EUR 500 million investment, while another EUR 150 million will be invested in mine modernization.

The construction of the power plant should take 3-5 years. The project should employ around 3,000 people and numerous Serbian companies, the ministry said after the statement was signed.

Mrkonjic pointed out the significance of the project for the development of Serbia's energy sector.

Alta builds energy and industrial facilities and has vast experience in constructing similar energy facilities in the Czech Republic, Ukraine and Russia.