The State Investment and Development Company and the state enterprise DIAMO have concluded a cooperation agreement. It will lead to a more efficient valuation of state assets

Prague (18 December 2024) Representatives of the State Investment and Development Company (SIRS) and the state enterprise DIAMO have agreed on mutual cooperation. Its main theme is to ensure that the reclamation and remediation work carried out by DIAMO is effectively linked to other land uses in order to support strategic investments in the Czech Republic on reclaimed areas.

The first step of the cooperation will be mainly the exchange of commercial, financial, technical and other relevant information concerning the territorial units managed by the state enterprise DIAMO. SIRS is already currently preparing an analysis of selected parts of the portfolio of land that DIAMO has the right to manage. On the basis of the internal evaluation, the working teams of both companies will then start to prepare an updated proposal for the future use of individual areas so that modern business parks for strategic investors can be created on them. These include the Lazy Mine, Staříč Mine, the area around the CSA mines and others. 

"Cooperation with SIRS will undoubtedly be of great importance for the development of the area affected by mining activities. The sites of the former mines are extensive and thus offer great potential for further use in the future, whether for further industrial production or environmentally sustainable projects," says Ludvík Kašpar, director of the state enterprise DIAMO.

This close cooperation between SIRS and DIAMO will save project costs, especially by sharing historical data, environmental and technological assessments, project documentation and other relevant documents. The aim is to assess the scope of the required reclamation as efficiently as possible towards the new land use and the current parameters required by the investors, which SIRS has at its disposal.

The whole process should accelerate the development of strategic areas in the Czech Republic, which is also appreciated by Zbyněk Pokorný, Chairman of the Board and CEO of SIRS. "Our long-term strategy is to revitalise and find meaningful uses for large, complicated brownfield sites that are not easily solved commercially. Thanks to our cooperation, we will also value the state's assets, which is why entering into a long-term partnership clearly makes sense," says Pokorný.

SIRS together with DIAMO will also examine the possibility of sharing the electricity between the entities and the variants of using green electricity from photovoltaic panels that would be placed on other areas outside the priority sites of interest. The aim is to offer the largest possible share of renewable energy to end investors on land that will be identified as strategic.

The purpose of the whole collaboration is to find the ideal intersection between remediation works and the possibility of new uses with the aim of revitalising the areas after mining activities. The result should be an appropriate valorisation of state assets and the preparation of sites for strategic investors with high added value. The cooperation is primarily aimed at increasing competitiveness and promoting sustainable growth in regions affected by the decline in mining.