Bosnia's state-run power utility Elektroprivreda Republike Srpske (ERS) has set up a project company tasked with the construction of two hydro power plants (HPPs) worth a total of 480 million marka ($276.5 million/245.4 million euro), local media reported.
The new company will build the two hydro power plants, Foca and Paunci, with Bosnia's Serb Republic and Serbia having participation in the project of 49% and 51%, respectively, business news portal Capital.ba reported on Thursday.
The government of Bosnia's Serb Republic said in January it granted concession contracts to ERS to build and operate the two HPPs on the river Drina. The Foca and Paunci HPPs will have a combined installed capacity of 95 MW.
The Serb Republic is one of two entities that form Bosnia and Herzegovina. The other is the Federation.