2011 - LETTER OF INTENT

Comsar Energy Limited, a Cypriot company owned by Russian oligarch Rashid Serdarov sent a letter of intent to the Republika Srpska Government in which it requested concessions for the exploitation of coal and the construction of two thermal power plants in Ugljevik with a total value of 800 million euros. It was also proposed to establish a special company “Comsar RS”. The Government accepted that letter very quickly.