Serbia To Invest $12Bln In Energy Infrastructure In Coming 6 Years - Vucic

BELGRADE (UrduPoint News / Sputnik - 08th October, 2022) Serbia is planning to invest 12 billion Euros ($11.7 million) in its energy infrastructure in the coming six years to ensure stable supplies, Serbian President Aleksandar Vucic said on Saturday.

"In the coming six years we will invest at least 12 billion in infrastructure, because energy is the main artery of the economy," Vucic said.

The president also stated that as agreed with Hungarian Prime Minister Viktor Orban, Serbia would start building a 128-kilometer long oil pipeline from Novi sad to Hungary's Algyo to connect to the Druzhba oil pipeline.

On Thursday, the EU adopted the eighth sanctions package against Russia in response to its military operation in Ukraine. The package also includes a price cap on exports of Russian oil to non-EU countries through the territory of the EU, which has been particularly lobbied by Croatia. This measure may affect Serbia that imports Russian oil through the Adria pipeline, which pumps oil from tankers in the Omisalj terminal in the Croatian island of Kirk to the refineries in Serbia.