A ceremony was held in Doboj, Bosnia and Herzegovina (BiH) on Saturday to officially begin work on 300-megawatt thermal power plant, participated by high government officials and company representatives.

Milorad Dodik, President of Republika Srpska, an entity of BiH, and Dong Chunfeng, Chinese Ambassador to BiH, were among officials attending the ceremony.

The investor of the project is the EFT Group while the main contractor is DongFang Electric Corporation from China.

Total investment amounts to 600 million euros (779 million U.S. dollars), with loans from Chinese Development Bank and other commercial banks from Europe, according to EFT.

Dodik, during his speech at the ceremony, said the project is important to the local economy, especially in time of economic crisis.

Deng, meanwhile, noted the project will enhance economic cooperation between China and BiH.

Dodik laid the foundation stone with Vuk Hamovic of EFT Group and Wen Shugang, President of DongFang Electric Corporation.

The plant is to begin a trial run in the last quarter of 2015.

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