September 28 (SeeNews) - Czech Republic-based investment holding company Eco-Investment plans to invest 100 million euro ($105.2 million) in expanding the capacity of its Bosnian portfolio company SHP Celex, which produces hygienic paper, the government of Bosnia and Herzegovina's Serb Republic said on Thursday.
Eco-Investment will build a new facility, purchase new equipment and invest in energy infrastructure as part of an investment cycle expected to last three to five years, the Serb Republic's government said in a press release.
The entity's government and Eco-Investment will sign a Memorandum of Understanding (MoU) for the planned investments.
In August, a fire broke out at the factory of SHP Celex without causing casualties. The estimated damage caused by the fire was 10 to 12 million euro, as stated by Mario Blazevic, the general director of SHP Celex.
SHP Celex is the Bosnian subsidiary of Slovak hygienic paper producer SHP Group, which is owned by Eco-Investment.
The Serb Republic is one of two entities that make up Bosnia and Herzegovina. The other entity is the Federation.
($ = 0.950357 euro)