September 13 (SeeNews) - The Bosnian partners in a joint project with Russia's Gazprom for the construction of a liquified natural gas (LNG) plant worth 75 million marka ($45.2 million/38.3 million euro) have secured a land plot for the plant in Zvornik, in the country's northeast, the government of Bosnia's Serb Republic said.
The entity's government did not provide details in its statement issued on Friday.
In December 2017, Gazprom and Bosnian gas trader Gas-Res signed a deal to set up a joint venture firm to build a LNG plant in Zvornik.
The plant will be majority-owned by the Russian company, which was also tasked with finding a financial partner and providing the technology necessary for the plant's construction, the office of Bosnia's Serb Republic president said at the time. The plant is expected to use Russian gas as raw material and to sell the end product in Bosnia and abroad.
Radovan Viskovic, prime minister of the Serb Republic, has agreed with the management of Gazprom to establish the joint venture that will be in charge of the project in the following period, according to the government statement on Friday.
Zvornik is a city on the Drina river in the north-eastern part of the Serb Republic, one of two entities that make up Bosnia and Herzegovina. The other is the Federation.
(1 euro = 1.95583 marka)