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Bosnia's RiTE Ugljevik, China's BNBM finalising talks on plasterboard factory construction

Bosnia's RiTE Ugljevik, China's BNBM finalising talks on plasterboard factory construction Photo: All Rights Reserved

SARAJEVO (Bosnia and Herzegovina), June 22 (SeeNews) - Bosnian coal mining and energy company RiTE Ugljevik [BANJ:RTEU-R-A] said it is about to complete talks with Chinese investor Beijing New Building Materials (BNBM) for the construction of a 50 million euro ($59.5 million) plasterboard production plant.

The draft agreement has already been sent for approval to the government of Bosnia's Serb Republic, which is majority owner of RiTE Ugljevik, the company said in a notice earlier this month.

RiTE Ugljevik would hold a 10% ownership stake in the future factory.

Under the plan, the factory will be built on an area of 12.5 hectares at a mine dump adjacent to the company's coal mine and power plant in Ugljevik and will employ about 100 staff. The plasterboard plant will use gypsum derived as a by-product at RiTE Ugljevik's recently built flue gas desulphurisation unit. The plant is expected to start operations in 2022.

($ = 0.8407 euro)

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