February 16 (SeeNews) - Bosnian salt mining company Rudnik soli Tuzla signed a 5.5 million marka ($3.4 million/2.8 million euro) deal with local company Mining and Drilling for the provision of drillling services and equipment for eight drill holes, local media reported.
By the end of the year, the mining company will invest a total of 10 million marka in the project, news portal RTVKT.ba reported on Friday.
The project also includes additional investments such as the purchase of pipes and fluid-insulators and building access roads, the acting head of Rudnik soli Tuzla, Aziz Cackovic, told RTVKT.
"It's important to stress that we have achieved a favourable price, significantly lower than the initially estimates of 8 million marka," Cackovic also said.
Rudnik soli Tuzla is based in the northeastern town of Tuzla, in the Federation entity, which forms Bosnia and Herzegovina together with the Serb Republic.
(1 euro = 1.95583 marka)