Energoprojekt Niskogradnja reinforces embankment on the Tisa river - Job worth RSD 671 million

(Tisa)

Energoprojekt Niskogradnja, a member of Energoprojekt holding, signed in June 2011 a new significant agreement: Works on Reinforcement and Erection of Defensive Embankments on the Left Bank of the Tisa River, 18 km long. This company will be carrying out the works in association with Novi Sad-based Dunav Grupa Agregati and the Ministry of Agriculture, Trade, Forestry and Water Engineering of the Republic of Serbia - the Directorate for Waters.

The value of the agreed job is RSD 671 million, while the period for the implementation of this project, financed by the World Bank, is set at 17 months. Although it planned to sign 273.1 million euros worth of new contracts this business year, Energoprojekt concluded only 16.2 million euros worth of deals in the first quarter, which is only 6 percent of the company's annual plan.

This is probably a fact that should worry the shareholders of this company the most, although this construction giant still needs to carry out the works worth 336 million euros (119m in the country and 217m abroad) by the year's end.