More and more works for "Energoprojekt" - "Niskogradnja" signed 19.7m EUR worth of contract in Peru

The beginning of this year was very successful for "Energoprojekt holding", of which companies are signing new contracts in Serbia, as well as in their traditional markets abroad. On Saturday (March 28, 2009), the Belgrade Stock Exchange announced on its website that "Energoprojekt Niskogradnja" (in consortium with Peruan company JOHES.A.) and the Ministry of Transportation and Communications of Peru had signed the new contract worth 19.7m EUR. The contract anticipates works on refurbishment of 51 kilometers of road in the mountain area of the Ands, at the height of between 3,500 and 4,000 meters above the sea level. The deadline for realization of the project is 12 months.

Let us remind that this company has recently announced its return to Iraq, its traditional market, after a long time. Namely, "Energoprojekt Entel" has signed the new contract that binds the company to design the tender dossier according to “turn key” principle for completion of the project for construction of steam power plant "Al Šemal". The investor is Iraqi Administration for Energy Projects within the authorized ministry. The value of the contract is 580,000 USD, and the deadline for elaboration of the project is four months.

"Energoprojekt Oprema" and "InstalacionesInabensa" have also signed significant contract for construction of new long-distance power line, 100 kilometers long, for transfer of electric energy under the voltage of 400 kV from substation Leskovac 2 to the border with FYR Macedonia. This contract, worth 6.8m EUR, will initiate realization of the second phase of construction of international long-distance power line between Niš and Skopje, which represents the extension of the route of the long-distance power line between Niš and Leskovac.

"Energoprojekt Oprema" is engaged in realization of that project, of which completion is expected in the first half of the next year, as the leader of the consortium that comprises "Minel" and "Energomontaža".

In spite of these successful business results and high business rating that this company acquired long time ago, and obviously maintained in the country and abroad, its stocks in Serbian shallow capital market have extremely low value.

The current price of stocks amounts to 435 RSD, while their highest price, registered on April 17, 2007, amounted to 3,400 RSD. The highest price in the last year was reached on June 11th, 2008, and it amounted to 2,499 RSD. In the meantime, due to the crisis in the Belgrade Stock Exchange, there was an unjustified drop in the value of these stocks.