June 20 (SeeNews) - Bosnian state-controlled brown coal mine Banovici [SAJ:RMUBR] and the Federation's privatisation agency will shortly seek a strategic partner for the construction of a cement factory at the coal mine, a project worth an estimated 250 million euro ($289.6 million), local media reported on Wedneday.
Banovici has already obtained the necessary documents and secured an environmental permit, with works planned to begin in 2019, news portal Ekapija reported.
"The strategic partner will provide the funds and may build the plant or choose the contractor for its construction," Ekapija quoted a company representative as saying.
The Banovici cement factory is estimated to produce 1.1 million tonnes of cement per year. Its output is planned for export to Serbia, Montenegro, Croatia, while also satisfying the needs of the local market.
There is also interest in exports to North Africa, Turkey and Austria, Ekapija noted.
Rudnik Mrkog Uglja Banovici is one of the biggest coal mines in the Federation - one of the two autonomous entities that make up Bosnia and Herzegovina. The other entity is the Serb Republic.
($=0.8631 euro)