Executives of two Chinese companies -- China National Technical Import & Export Corporation and Powerchina Resource -- have announced plans for building a €130 billion wind park in Livno, southwestern Bosnia and Herzegovina.

The executives met with the local authorities in the towns of Tomislavgrad and Livno on Thursday for talks on the future 84-megawatt wind park which should be installed in the areas of those two municipalities.

The government and the parliament of the Federation of Bosnia and Herzegovina have also greenlighted the project.

The construction of the Ivovik wind park, which is expected to generate up to 236 gigawatt per hour of electricity annually, is due to start next year.