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Bosnia's Brcko signs MoU on 255 mln euro initiative with Studen Holding

Bosnia's Brcko signs MoU on 255 mln euro initiative with Studen Holding Brcko district Studen Holding MoU signing Source:

SARAJEVO (Bosnia and Herzegovina), December 10 (SeeNews) - Bosnia's Brcko district government said it has signed a memorandum of understanding with Vienna-based Studen Holding on the holding company's 500 million marka ($283.6 million/255.6 million euro) initiative for improving the local business climate.

Under the initiative, investments will be made in agriculture, economy and tourism, starting next year, Brcko mayor Sinisa Milic said in a press release published by the district's government last week. 

Studen Holding told SeeNews by email on Tuesday that the financing is coming from the holding group itself and investors connected to the business group.

It aims to promote business in the fields of tourism, including rural tourism, agricultural production, entertainment, infrastructure, the processing industry, and logistics, resulting in the creation of 4,000 new jobs in the district. 

Within the intiiative, free trading zones will be set up, the company told SeeNews. 

Studen Holding controls Brcko-based Bimal Group, which is a leading oilseed, grain, and edible oil producer both in the Western Balkans. Part of the group is Bosnia's sole edible oil producer Bimal Brcko.

Studen Holding also controls the Studen-Agrana sugar refinery located in Brcko.

Brcko is a self-governing administrative unit in northeastern Bosnia.

(1 euro = 1.95583 marka)