Gordan Milinić, director of the Agency for Foreign Investment Promotion (FIPA), met with the Ambassador of Italy to BiH HE Ruggero Corrias to discuss preparations for a major Italian investment in BiH, which begins on July 19 in Sarajevo, the meeting between the representatives of the Italian company Pyrox and representatives of 60 municipalities in BiH. The Italian company "Pyrox" plans to invest about 150 million euros in co-generation projects on wood biomass in BiH. In each municipality where the project will be implemented will be employed 25 workers strong>, and according to the business plan annual profits in each municipality would be about one million euros strong>.
Italian “Pyrox” has its own technology for the production of electricity and thermal energy on the basis of solid biomass, which can be used to heat homes, greenhouses, and other facilities.
Installing and running a single plant would employ 25 workers, according to the business plan each municipality that participates in this project would have annual revenue from the sale of electricity and thermal energy in the amount of one million euros.
In addition to its own investors’ funds, the project is financially supported by UniCredit Bank and the Investment Fund of Ireland. Municipality to participate in the financing of investments in the amount of 10% to 15%, except for the percentage of the possibility of additional agreement.
Given that it is a renewable energy projects is also possible withdrawal of European funds for this purpose.
FIPA and the Italian Embassy in BiH will provide all necessary assistance to the investors and municipalities with a view to faster realization of investments.
The meeting also discussed the annual business forum Central – European initiative that will take place on 26 November in Sarajevo and which will bring together a large number of investors from member countries initiatives, including Italian investors, who in the words of the ambassador, very interested in the textile, wood and metal industry in Bosnia and Herzegovina, as well as for renewable energy projects.
Ambassador Corrias has fully supported the implementation of activities of FIPA in the implementation of direct visits to Italian investors. The Agency is planned, with the involvement of the Chamber of Commerce of Italy, to visit by the end of the interested companies in Italy in order to present investment opportunities in Bosnia and Herzegovina.