Energoinvest SAJ:ENIS, Bosnia's majority state-owned energy infrastructure company, has entered discussions with Ares Trafo Ekipmanlari, a Turkish transformer equipment manufacturer, to establish an industrial transformer production plant in Bosnia. The initiative aims to expand into European, African, and Middle Eastern markets, the company announced in a press release on Thursday.

The proposed facility is expected to create 250 jobs, contributing to Bosnia's industrial sector and strengthening Energoinvest's manufacturing capabilities. As part of the strategic partnership, the company also intends to produce additional components in Turkey under its own brand.

This announcement follows Energoinvest's recent decision to open a factory in Algeria in collaboration with a local partner, a move that would secure its status as a preferred supplier in the country.

Energoinvest's shares last traded on the Sarajevo Stock Exchange on February 27 at 3 marka ($1.6/1.53 euro), marking a 2.28% decrease. However, the stock has surged 172.7% since the start of the year.

Source: seenews.com