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Chinese companies are investing in the construction of the wind farm in Tomislavgrad

1/18/2016

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Memorandum of Understanding between the companies "Gradina" from Tomislavgrad and Chinese companies China Machinery Engineering Corporation (CMEC) and China-Africa Investment and Development Corporation (CAIDC) was signed on 7 January in Mostar with the aim to build a wind farm in the Municipality of Tomislavgrad, worth around 150 million EUR.

The Memorandum of Understanding was signed by the director of the "Gradina" company Mate Dukić as the owner of the concession, and representatives of Chinese companies - the project investors Li Xuegiang from CMEC and Mu Yushi from CAIDC (China-Africa Investment and Development Co.).

According to the Memorandum, parties agree on joint cooperation in order to build a wind farm of 3,2 MW on the Gradina site in the Municipality of Tomislavgrad.

According to the director Dukić, the measurement of wind began in 2006, the wind and energy atlases were made, and many other technical things. The goal is to start works on the wind farm as soon as possible.

He noted that this is the first wind power plant in our country, which is of great importance, and whose construction should end in 2017.

On behalf of two Chinese companies, Mu Yushi expressed satisfaction with the Memorandum signing, saying that the domestic partner made the right choice by choosing for partner these two Chinese companies that have very successful projects in the field of renewable energy beyond the borders of China, respectively in whole world.

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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