JP EP BiH: Planned investments of BAM 2.4 billion from 2016 to 2018

At the 37th Assembly of the Public Company Elektroprivreda BiH d.d.- Sarajevo, held in Sarajevo, a Decision was made on the dismissal of members of the Supervisory Board of JP Elektroprivreda BiH d.d. – Sarajevo representing state capital, due to the expiry of the period for which they were appointed. The following were dismissed from their duties - Enver Agić, Milenko Obad, Selvedin Subašić, Izudin Džafić, Elvir Nezirević and Jakub Dinarević. Adnan Terzić, Izet Žigić, Milenko Obad, Jakub Dinarević, Kerim Balta and Sead Rešidbegović were appointed as acting officials, for a period until the completion of the tender procedure, and for a maximum period of 3 (three) months, reports the BiH news agency Patria.

At the thirty-sixth Assembly held on August 26, 2015, Tarik Karić was appointed for a four-year term, representing a group of shareholders with over 5 percent of voting shares.

Shareholder representatives also adopted the Business Plan of JP Elektroprivreda BiH for the period 2016 - 2018. The business plan envisages investments of BAM 2.4 billion from own and external sources of financing. In the three-year period, the priority is the commencement of construction of new capital projects - TE "Tuzla" - Block 7, HE "Vranduk", mHE on Neretvica and VE Podveležje.

The new Plan envisages investment in mines in the amount of BAM 434.7 million through recapitalization of these subsidiary companies. With the Program for the restructuring of the power sector in BiH, activities on the restructuring of EPBiH and coal mines within the EPBiH Concern continue. The first phase in the restructuring of EPBiH is the formation of the Distribution System Operator (ODS).

The Assembly also made decisions on the reallocation of planned investment funds during 2015 and 2016 within the Business Plan of JP Elektroprivreda BiH d.d. – Sarajevo for the period 2015 - 2017, recapitalization by investing in ZD RMU "Zenica" as well as the Decision on approving the decision on amendments to the Statute of JP Elektroprivreda BiH d.d. Sarajevo, ZD RU "Kreka".

After the election and appointment of the members of the Supervisory Board representing state capital, a session of the Supervisory Board was also held.