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Bosnia's Elektroprivreda RS seeks 23.5 mln euro loan - report

Bosnia's Elektroprivreda RS seeks 23.5 mln euro loan - report Author: Flazingo Photos. License: Creative Commons, Attribution-ShareAlike 2.0 Generic (CC BY-SA 2.0)

BANJA LUKA (Bosnia and Herzegovina), September 17 (SeeNews) - Bosnian state-run power utility Elektroprivreda Republike Srpske (ERS) has launched a public call for a loan in the amount of 45.9 million marka ($25.9 million/23.5 million euro), local media reported. 

A part of the money (LOT 1) will be used to finance the concreting of the Fatnicko Polje - Bilecko Lake tunnel, news portal reported on Monday, quoting information from ERS. 

The company will use the remainder of the loan (LOT 2) to acquire shares of coal mining and energy company RiTE Ugljevik [BANJ:RTEU-R-A], according to the report.

ERS already controls a 65% stake in RiTE Ugljevik via its Trebinje-based unit. eKapija did not say whether ERS plans to acquire all of the remaining shares in RiTE Ugljevik. 

The deadline for submitting offers is October 24. 

(1 euro = 195583 marka)