September 28 (SeeNews) - Czech company Mavel is interested in investing 250 million euro ($280.7 million) in energy projects in Bosnia's Serb Republic, particularly in the construction of hydro power plants, the entity's energy ministry has said.
Czech Export Bank has expressed in writing its willingness to provide financing for such projects, the energy ministry said in a statement earlier this week following a meeting of ministry officials with Mavel representatives.
Mavel and the Serb Republic's power utility Elektroprivreda RS are now set to form, in cooperation with the energy ministries of both sides, joint teams that will work on the implementation of projects in the hydro power sector.
Last year, the ministry said that Mavel may fund the construction of four hydro power plants on the river Drina, which are set to improve the energy balance of the entity.
Mavel is an engineering and manufacturing company that provides hydro turbines for small hydroelectric power plants worldwide.
The Serb Republic is one of the two autonomous entities that form Bosnia and Herzegovina. The other one is the Muslim-Croat Federation.
($=0.890554 euro)