August 23 (SeeNews) - The economy ministry of Bosnia's Sarajevo Canton said on Tuesday it has signed an agreement with Sarajevo Sume, the canton's public enterprise for forest management, for the construction of a 8.457 million marka ($4.3 million/4.3 million euro) wood pellet factory.
Under the agreement, Sarajevo Canton's economy ministry will provide 6.37 million marka towards the investment, whereas the remaining 2.1 million marka will be financed by Sarajevo Sume, the ministry said in a Facebook post.
The cantonal government plans to launch a public call for the design of the factory by the beginning of next week, Adnan Delic, economy minister of Sarajevo Canton, said in the post. The public call for the land procurement is expected to be launched in up to 15 days.
The factory is projected to start operations in 2023, Delic said.
The Sarajevo Canton is one of ten cantons that make up the Federation - one of two autonomous entities that form Bosnia and Herzegovina. The other entity is the Serb Republic.
(1 euro = 1.95583 marka)