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SARAJEVO (Bosnia and Herzegovina), January 23 (SeeNews) - Bosnian food, trade and textile company AS Group has signed a 10 million euro ($11.3 million) long-term loan agreement with Austrian development bank OeEB to finance investment projects, the bank said.
AS Group will use the proceeds of the loan to finance expansion of its production capacity, build new production lines and invest in modern, energy-efficient facilities, the bank said in a statement on Tuesday.
The OeEB loan will help AS Group grow and create more than 300 new jobs, Sabine Gaber, member of the OeEB's executive board, said.
AS Group is one of the largest companies in Bosnia, currently employing some 2,700 people. Its food division manufactures some 1200 different products. The group owns many famous Bosnian brands in the food sector.