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Bosnia's Serb Republic gives nod to power utility to issue bond on Vienna bourse - report

Bosnia's Serb Republic gives nod to power utility to issue bond on Vienna bourse - report Elektroprivreda Republike Srpske ERS Source:Capital.ba

SARAJEVO (Bosnia and Herzegovina), November 30 (SeeNews) - Bosnia's Serb Republic has given the green light to Elektroprivreda Republike Srpske (ERS), the power utility of the entity, to issue bonds on the Vienna Stock Exchange, Bosnian media reported.

ERS plans to issue the debt paper in January, news provider Vjesti Sprske reported on Monday, citing Radovan Viskovic, prime minister of the Serb Republic.

Bosnian media reported in October that ERS plans to issue bonds worth 140 million euro ($158.7 million) on the Vienna Stock Exchange to raise funds for the construction of the Bistrica and Dabar hydro power plants (HPPs).

Bosnia's Serb Republic will cover 15% of the total cost for the construction of the two HPPs - an investment worth 661 million marka ($390.7 million/338 million euro), news portal Indikator reported earlier.

Bistrica will be built by China National Aero-technology International Engineering Corporation, whereas China Enegy Ghezouba Group will build the Dabar HPP.

The Serb Republic is one of two autonomous entities that make up Bosnia and Herzegovina. The other one is the Federation.

($ = 0.8819 euro)

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