Prevent Sarajevo of Bosnia Herzgovina and GBR of Italy have signed an agreement to set up a joint venture in Visoko, a small town near the Bosnian capital that has a long tradition of leather manufacturing. The two partners will make an investment €20 million in a new tannery, called Prevent GBR Leder Sarajevo, that will employ 300-350 workers. Covering 15,000 square meters, it will be one of the largest in Southeastern Europe, processing 2,000 hides a day. The plant will be equipped with modern machinery for production as well as waste water treatment. Meanwhile, municipal authorities in Visoko are getting ready to sell the 67 percent stake that the government holds in KTK Visoko, formerly the country’s leading hide and skin producer, which now has a workforce of 1,600 and factories in various parts of Bosnia Herzegovina and the former Yugoslavia.