BANJA LUKA (Bosnia and Herzegovina), March 13 (SeeNews) – Russian state-controlled oil company Zarubezhneft will invest 30 million euro ($41.7 million) in Bosnian oil refinery Rafinerija Nafte Brod [BANJ:RNAF-R-A], in which it holds a majority stake, aiming to improve the working conditions, the president of Bosnia’s Serb Republic, Milorad Dodik, said.
He did not elaborate on the planned investment.
At a meeting with Zarubezhneft’s general director Sergey Kudryashov, Dodik discussed the refinery's future development and possible gas supplies for it, the president's office said in a statement on its website on Wednesday.
Rafinerija Nafte, based in Brod in the northwestern part of Bosnia’s Serb Republic, is majority-owned by Zarubezhneft's subsidiary NeftegasInCor.
The Serb Republic is one of the two autonomous parts of Bosnia and Herzegovina. The other one is the Muslim-Croat Federation.