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Bosnia: Multimillion investments, thermal power plant and cement plant soon

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Brown Coal Mine Banovići ended last year on a positive side with a generated profit of around 600,000 BAM, said the Director of the Mine Munever Čergić.

In comparison with 2014, the profit slightly decreased. On the other side, new 260 workers have been employed in the best coal mine in the country. Investments in the past year amounted to 14 million BAM.

“Four tipper trucks have been procured, costing us around nine million BAM, and we also procured equipment for surface and underground exploitation,” Čergić added.

Preparations for investing in underground exploitation during 2016 have already been launched.

When it comes to the construction of a thermal power plant in Banovići, Čergić said that a contract has been signed on the execution of works and procurement of equipment in the amount of 405 million EUR. Delegation of the mine visited China in January, where they talked to the representatives of one bank and one insurance company.

“The Government of FBiH, actually the Ministry of Finance in FBiH, is to amend the Law on Issuance of Guarantees in order to facilitate the approval of federal guarantees. The Government assumed that responsibility. We count on them to provide us the guarantee in about two months. What remains to be done then is to sign the contract with the bank, followed by preparatory works, obtaining of a construction permit, projecting,” Čergić said, stating that, if there is no delay with the issuance of guarantee, the works might begin in September this year or by the end of 2016.

“This investment is estimated to around 500 million EUR, with all costs included,” Čergić said.

Čergić explained that investments in the mine until 2019 should amount to more than 120 million BAM.

source: sarajevotimes.com

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