Serbia to Invest EUR 150 mln in Oil Link With Hungary
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Serbia plans to invest EUR 150 million (USD 163 million) in the construction of a 128-km (79.5 mile) cross-border oil pipeline with Hungary, Energy Minister Dubravka Đedović-Handanović said, according to a report by SeeNews.
Work has already started on drafting the technical documentation for the pipeline that will provide Serbia with Russian Urals crude via the Druzhba oil pipeline, and help Belgrade diversify its energy sources, Đedović-Handanović said in a statement published on the government's website. The planned pipeline will transport some 4 million tonnes of oil, the minister said earlier. Its construction should be completed before the start of the international exhibition Belgrade Expo 2027, she added.
In June 2023, Serbia and Hungary signed an agreement for the construction of the cross-border pipeline that will stretch from the northern Serbian city of Novi Sad to Algyő, in Hungary. In a separate statement Đedović-Handanović also said that Serbia has started talks with South Korea's Hyun dai Engineering for the construction of a 1-GW solar energy project.
The planned facilities, including energy storage stations, will be installed at five locations in the country's east and south, she said in the statement. The energy minister gave no further details about the project.
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