Bosnias Elektroprivreda wraps up EUR 35mn loan talks with EBRD.

By bne IntelliNews March 20, 2013
Bosnias largest power utility Elektroprivreda BiH said it has successfully completed the negotiations with the EBRD on a EUR 35mn loan for the construction of new and revamp of existing hydro power capacities. A delegation headed by Elektroprivreda BiH's director general Elvedin Grabovica visited London last week to hold talks with the international lender, the company said in a statement. According to the EBRDs website, the loan is scheduled for formal approval by the banks executive board in September 2013. The projects to be financed include the construction of the 20 MW Vranduk hydro power plant (to receive EUR 26mn EBRD financing) and the rehabilitation of the Una hydro power plant (EUR 9mn). Elektroprivreda BiH plans to invest BAM 390mn this year on modernisation and restructuring. In 2013, the company plans to launch the construction of two big hydropower plants Vranduk and Ustikolina and of the small hydropower plants on the river Neretvica. It is in a process of selecting a partner for the construction of the unit 7 at its Tuzla thermal power plant, which is estimated to cost BAM 1.646bn. Elektroprivreda BiH posted a profit of BAM 7.1mn (EUR 3.6mn) in 2012 when its total revenue stood at BAM 926mn.
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