Construction on a new thermal plant in Serbia is scheduled to break ground next month. To go up within the NIS Oil Refinery complex in Pancevo, TE-TO will produce heat and electricity from natural gas in an effort to meet the refinery’s growing needs. The investment is valued at €180m. The Russia’s Gazprom Neft, which owns NIS in Serbia, and Gazprom will oversee the project. The Shanghai Electric Group designed the plant and will be in charge of equipping TE-TO.
