ECONOMY

Bosnia likely to export power to Greece in 2004

SARAJEVO (Reuters) – A consortium led by Bosnia’s largest engineering group, Energoinvest, yesterday signed deals worth 25 million euros ($29.75 million) with three state power firms to fully restore their war-damaged electricity grids. The consortium said it plans to complete the project by June 2004 in order to enable the export of surplus electricity to Greece, which has expressed concern about its own capacity during the Olympics next summer when demand will be high. Energoinvest General Manager Dzemail Vlahovljak said the project would be financed as part of the World Bank-led $231 million «Power 3» project, which aims for the rehabilitation of the power sector and creation of a viable energy market. The contracts include reconstruction of the power transmission system of 800 kilometers (496 miles), which will help ensure reliable power supplies within Bosnia and restore prewar connections with neighboring countries and the rest of Europe.