State owned Elektroprivreda Srbije (EPS) and Siemens signed a CHF9.3m($10.5m) contract for the upgrade of the Nikola Tesla B thermal power plant (TENT) in Obrenovac, Serbia.

The companies will upgrade the plant’s monitoring and control system to improve its efficiency and environmental protection in the initial phase.

The project, estimated at CHF28.6m($32.4m) is part of the bilateral cooperation program between Serbia and Switzerland.

The Swiss government will provide CHF10.5m($11.9m) while the remaining CHF18.4m($20.8m) will be secured from EPS.

The project will be complete over the next three years.