BH Telecom signs a 3G deal with Ericsson worth € 4.4 million

BH Telecom, the largest operator in Bosnia and Herzegovina and Ericsson signed new contracts amounting to 4.4 million EURO. The contracts are related to the extension of 3G network, as well as to the upgrade of the core network of BH Telecom. The extension of 3G network confirms the satisfaction of BH Telecom with the cooperation with Ericsson, in the initial phase of introduction the 3G technology. The contract covers the delivery, installation and integration of the equipment, i.e. it is made on the turn key principle. The realization of the above projects starts immediately.

Gordana Kovačević, MSc EE, made comments on the above signed contracts: „I’m very pleased, that on the basis of further extension of BH Telecom 3G network, we shall enable the offering of the advanced 3G services to the considerably larger number of Bosnia and Herzegovina citizens. This achievement is the result of the strategic commitment of BH Telecom to introduce new technologies, and simultaneously it confirms the excellent cooperation between the two companies”.

Bosna Bank International starts financing purchase of agricultural land

Bosna Bank International (BBI) created a Security Food Program within which it is offering financing purchase of agricultural land. Financing is intended for interested individuals and corporate entities at favorable profit rates and simple procedures of the submission and processing of applications.

BBI decided to create the Program and financing after an analysis of recognized research agencies, which anticipated huge worldwide shortage of food in the following two years.

Within the Program, interested customers will also be able to receive financing for construction and refurbishment of agricultural facilities, purchase of agricultural mechanization, equipment, tools, trunks, seeds, etc. Bosna Bank International will also start activities in order to provide the interested applicants choice of better and more favorable land and help them in connecting with food producers and farmers, who could again help the applicants in changing of the land they bought into fertile soil.

That way, BBI not only provides the clients with an opportunity to secure their own piece of land but to invest in actual value as well.

Promo, Bosnian supplier of prefabricated houses, signs major contract in Iraq

Promo from Donji Vakuf, Bosnia, has become the exclusive partner in the construction of prefabricated buildings for the needs of Iraqi investors.

By signing the Memorandum of interstate cooperation with the Iraqi ministry of transport and communications, Promo - the leader in manufacturing of prefabricated buildings in the region, has become the exclusive partner in the construction of prefabricated buildings for the needs of the ministry.

- In early November this year, along with representatives of Hidrogradnja (othre Bosnian company), we shall visit Iraq. We expect to specify the details of the project, which would mean the construction of residential and holiday homes, school facilities, kindergartens, sports facilities and various support facilities - highlights Kemal Colak, CEO of Promo.

In his words, this contract will engage full production capacity of the company and will bring about increase of work force. The first deliveries should begin in the spring of 2010.

Freeborn Development Group (FDG) planning to invest in Bosnia

President of the American investment company Freeborn Development Group (FDG) Mr. John Freeborn presented the plan for potential investment to the representatives of the business community and the authorities in Brcko, Bosnia, a few days ago.

FDG was also represented by Ibrahim Vajzovic from Brcko, who is a senior consultant at FDG.

"Despite the present recession, there is money that can be invested. I managed to convince American investors to come to Bosnia and experience this favorable business climate" - said Vajzovic.

He added that they held a series of successful meetings and presentation of investment plans in several Bosnian citiez, such as Brcko, Sarajevo and Tuzla.

"We are interested in projects in various fields of economy, ranging from several hundreds of thousands of dollars, to several tens of millions. It's hard to talk about the final amount, because it depends only of the quality of the proposed projects "- explained Vajzovic.

Vajzovic said that they will take a dozen proposed projects with them for further analysis, and that they will be discussed in the next few months.

"We will conduct thorough analysis and we plan to return in October with proposals and the investment plans. We are interested in projects in the field of agroculture, meat production, wood processing, construction and mechanical engineering, but the list is not final" - said Vajzovic.

Italian investors purchase Bosnian IT-brand

Bosnian IT-brand "IT Computers", was purchased by an Italian investor, said Nihad Softic the CEO of IT Computers.

"The brand "IT Computers" will in this way remain on the Bosnian market, and the new Italian owner will set a new direction," Softic said.

In his words, a contract with the Italian investor was signed last week, details about the contract and the investor's identity will be announced next week.

2,5 billion EURO investment in Bosnian energy sector

Elektroprivreda BiH is in the process of investment in new production facilities and renewable energy sources, as well as absorption of coal mines it recently acquired - said Jerlagić Amer, CEO of the company.

"By the end of 2020 we plan to build new hydro, wind and thermal power plants with combined power of 1800 MW amounting to annual production capacity of more than eight TWh. The value of these investments is 2.5 billion euros," he added.

"Investments in the rehabilitation of existing and construction of new facilities, in three coming years will amount to 700 million euros," said Jerlagić during his the welcoming address to the participants of international colloquium CIGRE, that started in Sarajevo today.

Construction of new power plants, he says, is a prerequisite for development and positioning of Elektroprivreda BiH as leader in the region of south-eastern Europe.

Elektroprivreda BiH Sarajevo is the largest power producing company in Bosnia with 1670 MW installed capacity, annually producing 6.5 TWh of electricity, of which one third is exported or sold to other companies within Bosnia. Annual income of the company is 450 million and it supplies more than 670,000 customers.

Bosnian food producer - Klas - maintains strong export

"To the US we mostly export Bosnians cakes prepared according to traditional recipe. Thus, our cakes can be found in shops in the New York City, Chicago and Saint Louis. It is interesting to see that demand for our products has not decreased in the distant Australia either, "says Benjamin Vukotic, deputy CEO for sales and marketing.

We have large demand for our cakes in Croatia while consumers in Denmark, Sweden, France and the Netherlands love our frozen traditional Bosnian bread (somun) that is widely used in many fast food restaurants.

Among the most attractive products outside Bosnia is pastry, flour, especially our brand "Golden powder" and raspberries. Raspberries, grown, processed and packaged in Bosnia are mostly exported to Belgium, while biggest purchasers of flour are to be found in Sweden, and Montenegro.