Minister of Economy and Energy Rajko Ubiparip of Bosnia and Herzegovina

Minister of Economy, Energy and Development of the Bosnian Serb entity Rajko Ubiparip said the capacity of the plant would be reduced from the initially planned 550 to 150 megawatts, after Montenegro opted out of the project.

A statement issued by his ministry said Ubiparip had offered his resignation to RS Premier Milorad Dodik since he was no longer able to fufill his duties.

I am sorry that I will no longer be a direct part of the team that will implement all the good things we planned, Ubiparip is quoted as saying in the ministry's statement.

Ubiparip has had a high profile over the past year as he played a key role in several large privatization deals in the oil and energy sectors.

Minister of energy and development Rajko Ubiparip said construction may start in 2008, and be completed within 4-5 years.