July 21, 2011 / 9:24 AM / in 7 years

Bosnia Energoinvest wins Ethiopian power line deal

SARAJEVO, July 21 (Reuters) - Bosnia’s largest engineering group Energoinvest has won a contract to build a 230 kV power transmission line in Ethiopia at a cost of $45 million, it said on Thursday.

The contract was awarded by the state-run Ethiopian Electric Power Corporation and will be officially signed by the end of July, said Energoinvest. It added the project would be completed in two years.

The deal is the latest in a string of international contracts for Energoinvest which is struggling to recover from the impact of Bosnia’s 1992-95 war and to regain footing in former markets such as in Africa and Asia.

The company, which produces electrical power and technological processing equipment was among the largest exporters in the former Yugoslavia, with an annual turnover of about $2.5 billion.

Ethiopia’s Electric Power Corporation has said it aims to produce 20,000 megawatts of power within the next decade, part of a plan to spend $12 billion over 25 years to raise power generating capacity and become a major exporter in the continent. . (Reporting by Maja Zuvela; editing by Michael Kahn)

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