Geological investigations on the territory of Banjaluka which should show whether the capital of Srpska has thermal water sources that are economically viable for the production of heat and electricity should continue this year.
Iceland’s company Manvit was granted a concession for a period of three years to explore the thermal potentials of Banjaluka. Their representative in B&H confirmed that due to a lack of funds the project was at a standstill, but that an agreement on cooperation with a partner who will invest money in further research should be signed as early as this week after which the second and third phase of the project should begin.
The Government of Srpska and the Ministry of Industry, Energy and Mining signed a concession contract with Manvit in August 2012 for geological exploration of thermal waters in the area of Banjaluka. The contract is worth 2,817,500 KM.