The Prime Ministers of Serbia and the Republika Srpska (RS) signed a joint statement on the construction of three hydropower plants on the Drina river on Friday.
The power plants will be joined in the Upper Drina energy system, a project which will cost 520 million Euro to complete.
Serbian Prime Minister Ana Brnabic told the ceremony in Banjaluka that Serbia and the RS set up a joint company to build the power plants with the Serbian power company EPS owning 51 percent and the RS power company EPRS owing 49 percent. She said that this is the first of two strategic projects that Serbia and the RS are launching this year and next and specified that Serbia will earmark 30 million Euro from this year’s budget for the construction of an airport outside the city of Trebinje.
RS Prime Minister Radovan Viskovic said that hydropower plants are a green energy project which will help the economic growth of the RS and Serbia and added that the joint company was formed to manage the power plants and avoid complicated public procurement procedures.