MILOVANOVIC: Energoprojekt expects to land over billion U.S. dollars deals

(Vladimir Milovanovic)

Energoprojekt Holding expects the value of contracts it will win by the year's end for projects in the country and abroad to exceed USD 1 billion, Energoprojekt CEO Vladimir Milovanovic stated Sunday (8 June 2014).

Among the most significant projects of Energoprojekt is the development of power distribution system in Qatar, valued at over USD 1 billion, and the Serbian construction giant is hired as an adviser to run the whole project on behalf of the investor, Milovanovic explained to Tanjug.

Energoprojekt is also working as project manager on the construction of huge reservoir of drinking water in Qatar whose financial value is extremely high, Milovanovic said and pointed out that Kuwait was the only Arab country to have managed to build a network of such huge reservoirs of drinking water.

In Serbia, Energoprojekt expects to sign a contract next week to resume the construction of the railway station Prokop in Belgrade, with a credit support of EUR 25 milion from the Kuwait Fund for Arab Economic Development, Milovanovic reminded.

The company will also be building a highway stretch on Corridor XI, which is financed with the proceeds of the Chinese loan.

- I hope that by the end of this year, the value of contracts we expect to sign will surely reach USD 1 billion or even exceed it - the CEO of Energoprojekt specified.

Milovanovic noted that Energoprojekt was finishing the construction of hospital in Kazakhstan for a private investor, adding that the project was valued at somewhat below USD 30 million and that the Serbian construction company was also building a complex of entertainment and fun facilities in that country, consisting of several restaurants and nightclubs, for another private investor.

In Russia, Energoprojekt is engaged in several important projects: construction of Hyatt Regency Hotel in Rostov on the Don River, residential complex in the city of Sinstikar, a Gazprom building in the city of Uht, and an oil base in Astrahan, Milovanovic said and voiced his belief that "there will be even more good news in the months to come."

In Africa, Energorpojekt operates in Algeria, Ghana, Nigeria, Uganda, Zambia and Zimbabwe, Milovanovic underlined and added that one of the latest contracts won was the construction of cargo center in Ghana.