December 1 (SeeNews) - Germany's GS Holding laid the foundation for a metal products manufacturing plant in Bosnia's Prozor-Rama, the municipality said on Thursday.
The Prozor-Rama municipality is supporting the investment with subsidies in the amount of 2 million marka ($1.1 million/1 million euro) and has provided a 10,000 sq m land for the factory, it said in a press release.
The plant is valued at 10 million marka and is expected to employ 57 people by the end of 2022, with a view to increasing its headcount to at least 70 in 2023, according to an earlier statement by the municipality.
The factory is planned to include a solar power park which will generate electricity for the needs of the factory and for sale on the electricity market.
Prozor-Rama is located in the Federation, one of the two autonomous entities that form Bosnia and Herzegovina. The other entity is the Serb Republic.
(1 euro = 1.95583 marka)