FIPA Activities

CAPITAL GROUP VISITED FIPA: INVESTMENT OVER 300 MILLION BAM IN THE ENERGY SECTOR

2/11/2016

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Idris Fatih Sahin, owner of Capital Group in Istanbul, and his associates visited the FIPA Agency on 10 February, where he talked with the Director Gordan Milinić and the regional representative of FIPA for Herzegovina Amir Kazić about the implementation of their investment projects in BiH.

It is about projects of solar energy worth 300 million BAM, and projects in the field of tourism and agriculture also worth a few hundred million BAM.

Projects of the solar energy include in the first phase of implementation 100 MWp of solar photovoltaic power plants across the country, out of which a unique solar photovoltaic power of 65MWp will be built in Bančići, Ljubinje. Also, everything is ready to begin construction of solar photovoltaic power plant (SFE) Čapljina-Neretva1 of power 5 + 5 MWp, SFE Ljubinje1 of 2MW, SFE Mostar1 of 5MW, SFE Mrkovići1 of 1.5MWp.

The said company also plans to build wind farms in the first phase till to 250 MW.

Istanbul Capital Group is owner and founder of ITM Controls Ltd. Sarajevo, Sarajevo Solar IFS, IFS Solar Ljubinje, Smart Energo Sistemi Pale and Energoinvest TAT-IFS which makes the backbone of a big step forward the enlargement of the solar electricity production.

Considering that Capital Group together with ITM Controls invests simultaneously in both the renewable energy and in the production of healthy food and tourism, it will soon open in Sarajevo at Ferhadija Street the first in a chain of specialized boutique "health food-energy" which will be placed some of its own products from eco villages Ekofutura Hreša, Biona Vogošća and also products from subcontractors from the project Jahorina Organic Farm, products of the Alpine goats farm Žepa and others.

ITM Controls implemented the first official solar power plant in BiH and one of the first in the EU - Los Rosales1 of 3.9 kWp in 2008 in Mostar.

Testimonials & Success Stories
 

Global Investment Promotion Best Practices 2012 of the World Bank has cited one example of support that FIPA provides to foreign investors who are running business in Bosnia and Herzegovina in order to contribute to increase the flow of foreign capital in the country.

The article said:  

„The Foreign Investment Promotion Agency (FIPA) of Bosnia and Herzegovina was an early convert to the idea of providing facilitation services to agribusiness investors as a way to maximize the positive impact of agriculture on the economy.

In 2007, for example, FIPA assisted a Dutch food processing company establish a US$1.6 million production facility to process unused milk ingredients into value-added products in Sarajevo to sell to markets in Eastern Europe and the Middle East.

As part of its aftercare program, FIPA assisted the company with its expansion plans. Among other things, the agency helped facilitate veterinary permissions, navigate various bureaucratic hurdles and played an important role in securing funding for the company’s expansion. It also helped develop a network of local suppliers and customers. As a result of these efforts, the Dutch investor developed stronger links with the Bosnian economy, thus increasing the positive spillover effects on the local economy.

Currently a new investment to establish a drying facility for milk powder is under way. This will further expand the processing facilities of unused milk ingredients. This additional planned investment is worth approximately US$2.8 million, thus nearly trebling the company’s original investment in the country“.

 

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