June 12, 2024
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Republic of Srpska: Saudi MASCO to buy 60 MW solar power plant in Bijeljina

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In a significant milestone for collaboration between the Republic of Srpska and “MASCO Group” from Saudi Arabia, a Memorandum on the Construction of a 60-megawatt solar power plant in Bijeljina was signed in Banja Luka. The signing ceremony, attended by Prime Minister Radovan Višković and MASCO Group’s General Manager Rade Đorđević, marked the commencement of a groundbreaking project.

Prime Minister Višković expressed optimism about the future partnership, considering the memorandum as an initial step towards more extensive cooperation. He highlighted the Republic of Srpska’s aspirations for larger projects in areas such as road infrastructure and the utilization of hydrogen for heavy machinery operations. Višković conveyed gratitude to MASCO Group for selecting the Republic of Srpska as their investment destination, emphasizing the favorable business environment and tax incentives that make it an ideal location for investments.

Discussions during the meeting extended to potential collaborations on strategic projects like the Corridor 5C highway, Banja Luka bypass, and the reconstruction of the low-voltage network across the entire Republic of Srpska. MASCO Group’s commitment to offering the most favourable financial resources further solidified the prospects of successful cooperation.

Rade Đorđević, General Manager of MASCO Group, highlighted the conglomerate’s global presence with nine companies implementing projects worldwide. He credited the solar power plant project in Bijeljina to the fruitful collaboration with the Government of the Republic of Srpska. Đorđević commended the favorable business environment in the Republic of Srpska and expressed confidence in the extension of cooperation to future projects.

The signing ceremony was also attended by Minister of Energy and Mining, Petar Đokić, signifying the government’s commitment to advancing energy and infrastructure development in collaboration with MASCO Group.

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