Reuters reported that Mitsui & Co could invest up to EUR 200 million in Bosnia's energy sector.

Mr Shunsuke Nakagawara GM of Mitsui & Co business development centre for Eastern Europe and Russia said that the group is interested in Bosnia's wind, solar and hydro-power resources and would soon start talks on new projects.

He added that "Bosnia has a lot hydro power potential and for the start we are interested to invest up to EUR 200 million into a new hydro power station here. If there are other good business opportunities, we are ready to invest more."

Bosnia gets 40% of its electricity from hydro power plants and the remainder from coal fired plants. Unlike other countries in the region, which rely on imports to cover much of their consumption, it is able to export power, helped by its hydro potential.

Governments of its two autonomous regions, the Muslim Croat federation and the Serb Republic, aim to attract some USD 11.7 billion of investments into the energy sector over a decade to boost output and meet growing demand.

The plans include overhaul of units at communist era coal fired plants and building of new, more environment friendly units, as well as the construction of a series of new hydro power plants and wind parks.

Mr Nakagawara said that Mitsui & Co was also exploring business cooperation with Bosnia's top drugs firm Bosnalijek. He added that "Bosnalijek is a unique company because of its trade links with South African and also Middle East markets."

Mr Nakagawara said that Mitsui Chemicals is planning an expansion to new markets. He added that "So, maybe we have some business chance with Bosnalijek to help our Japanese branch channel the products to Middle East and South Africa".

(Source from www.reuters.com)