June 26 (SeeNews) - China Energy Gezhouba Group started the construction of the 160 MW Dabar hydro power plant (HPP) in Bosnia and Herzegovina, worth 338 million euro ($368.4 million), state-owned power utility Elektroprivreda Republike Srpske (ERS) said.
The construction of the HPP is expected to be completed in up to 46 months, ERS said in a press release on Friday.
Some 85% of the investment is funded through a loan guaranteed by the government of the Serb Republic, whereas the remaining 15% is funded by ERS, the statement read. The loan was provided by Exim Bank of China, according to earlier local media reports.
The Serb Republic signed a contract with China Energy Gezhouba Group for the construction of the Dabar HPP in 2020.
The Serb Republic is one of the two autonomous entities that comprise Bosnia and Herzegovina. The other is the Federation.
($ = 0.917452 euro)