Bosnia and Herzegovina (BiH) could face another international arbitration dispute, this time related to Croatia’s request for compensation for its investments in thermal power plant Gacko in the early 90s.
Minister of Foreign Trade and Economic Relations of BiH, Mirko Sarovic said that the Ministry received a request from Croatian state-owned power utility HEP for compensation for company’s investments in Bosnian energy sector. He said that HEP is seeking for voluntary settlement and announced that it will start arbitration procedure if BiH fails to comply with HEP’s request. He did not comment on the exact amount of the claim, but noted that tens of millions of euros are involved.
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Tags: arbitration, BIH, Bosnia and Herzegovina, claim, compensation, Croatia, electricity, Gacko, RS, TPP