SARAJEVO, Bosnia (March 26,2008) - The shareholders of Sarajevo-based Bosnian construction company Hidrogradnja have decided to form a joint venture in Libya. The company will be formed with a Tripoli-based partner, and Hidrogradnja will hold a share of 65 per cent. Supervisory Board's chairman Izmir Hadziavdic said the decision had been approved by the relevant ministry before that.
It is a requirement of Libyan laws that foreign companies operating in the country cooperate with local partners. Further details were not discussed at the meeting. Hidrogradnja already has 83 million Bosnian Marks worth of two-year contracts signed in the country.
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Wednesday, March 26, 2008
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