BANJA LUKA (Bosnia and Herzegovina), April 16 (SeeNews) – India-based Eurotherm Hema Radiators India Ltd. has expressed interest in investing up to 20 million euro ($32 million) to build a factory for radiators and heating devices in Bosnia’s Serb Republic, the Republic’s cabinet said on Wednesday.
The factory would employ some 400 and would be located near the motorway connecting the Serb Republic's administrative centre Banja Luka and the Bosnian-Croatian border in the north, the government said in a statement after a meeting between the Serb Republic Prime Minister Milorad Dodik and representatives of several Indian companies.
The statement said the government agreed to secure 50,000 square metres of land for the factory, after which the company would start preparations for the construction works. The factory will initially export all its production.
Eurotherm Hema Radiators India Ltd. is a joint venture between Germany-based Eurotherm, part of global industrial automation, transportation and controls group Invensys, and Indian machine builder Hema Engineering. It manufactures and supplies heating ovens, bath radiators, steel panel radiators and their accessories, used for domestic heating purposes.
The Serb Republic is one of the two autonomous parts forming war-divided Bosnia. The other is the Muslim-Croat Federation.
The government also said representatives of Indian companies Hema Group, Eurotherm Hema Radiators India Ltd. and Mega Travel Jetwing have expressed interest in investing in a new cement factory near the Gacko coal-fired plant in southern Bosnia, in the local wood processing industry and in the Banja Luka airport.
The cabinet did not disclose additional details on these investment plans.
($ = 0.6292 euro)