KTG

UNANIMOUSLY APPROVAL OF THE COUNCELORS OF THE CITY COUNCIL ZENICA TO THE ANNEX OF THE AGREEMENT ON INCORPORATION OF KTG ZENICA D.O.O.

The Swiss Company KTG AG Lugano will invest 250 million Euro in the joint ventureThe City Council of Zenica, on yesterday’s session, after a long discussion, unanimously approved the Annex to the Agreement on incorporation of KTG Zenica d.o.o.

By this Annex of the Agreement on incorporation of KTG Zenica d.o.o., the Municipality of Zenica transferred into the share capital of the joint venture company, the land in the business zone “Zenica 1″ designated for the construction of the power plant of 240 MW.  Estimated market value of the land is 11’780’000 KM and it represent the 25% stake contribution of the Municipality of Zenica.

Swiss company KTG AG Lugano will invest approx. 250 million of Euro in the joint venture, which will be regulated by the other annex of the Agreement.

 


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