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Bosnia’s RiTE Gacko plans investments of 25.6 mln euro in 2015 - govt

Bosnia’s RiTE Gacko plans investments of 25.6 mln euro in 2015 - govt

BANJA LUKA (Bosnia and Herzegovina), August 5 (SeeNews) – Bosnian coal mining and energy complex RiTE Gacko [BANJ:RITE-R-A] plans to invest 50 million marka ($34.3 million/25.6 million euro) next year, the government of Bosnia's Serb Republic entity said on Tuesday, quoting the company's director.

The planned investments will target mine basin protection measures, the purchase of new equipment and machinery, as well as obtaining concessions for coal mining in the next 25 years, the Serb Republic government quoted Milinko Milidrag as saying after it gave the greenlight to the management for further investments.

RiTE Gacko, part of state-owned power utility Elektroprivreda RS, is located in the southern part of the Serb Republic, one of Bosnia's two autonomous entities. The other one is the Muslim-Croat Federation. Elektroprivreda RS runs one more coal mining and energy complex, RiTE Ugljevik.

(1 euro=1.95583 Bosnian marka)

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