July 12 (SeeNews) - An unnamed Austrian investor intends to invest 12 million euro ($13.5 million) in carpentry production in the Famos industrial zone in Pale, some 20 km southeast of Sarajevo, local media reported on Friday.
According to the letter of intent sent to the municipal council of Pale, the investor plans to reconstruct an existing building in Famos and the investment would create 200 jobs, business news portal eKapija.com reported.
"We will demand from the investor to provide all bank guarantees or anything that will prove he is serious. If all goes well, we will give him a chance, as he promises to invest in the reconstruction of the building, secure new machines and launch carpentry production," Pale mayor Bosko Jugovic said.
Pale is a town in the Serb Republic, one of two entities forming Bosnia and Herzegovina. The other one is the Federation.
($ = 0.888229 euro)