January 24 (SeeNews) - Bosnian power distributor Elektrokrajina [BANJ:EKBL-R-A] is inviting expressions of interest from consulting companies to monitor the implementation of a power grid upgrades project, the European Bank for Reconstruction and Development (EBRD) said on Tuesday.
The EBRD is currently in the process of signing a loan to Elektrokrajina to help the company reach its strategy objectives of reducing losses of electricity and improving the quality of supply through the installation of new equipment, the lender said in a statement.
The company now intends to retain an experienced consulting company to ensure the successful completion of the project in accordance with the plan and with all EBRD requirements stipulated in the loan agreement.
The assignment is expected to start in March 2017 and has an estimated overall duration of 36 months.
"It is anticipated that the contract will be financed by Austrian government through it DRIVE Fund," EBRD said.
The deadline for submitting expressions of interest is February 13.
Elektrokrajina is a unit of Elektroprivreda Republike Srpske (ERS), one of the three power utilities operating in Bosnia and Herzegovina.