Belgrade, Feb.18, 2010(Serbia Today) – Tender bids for the construction of 110 kilometers of the northern part of road Corridor 10, from Novi Sad to Horgos and from Subotica to Kelebija, were opened on Tuesday at the Ministry of Infrastructure. It was stated that three bids had been received.
The bids were submitted by a consortium of Serbian companies led by PZP from Belgrade, Primorje from Slovenia and Hidroelektra Niskogradnja from Croatia, in consortium with Vojput from Subotica. The consortium of Serbian companies offered the lowest price of RSD 9.97 billion, the Croatian company offered the price of RSD 11.55 billion, while the Slovenian company’s offer was RSD 13.47 billion. President of the Commission Dejan Kovacevic recalled that the documentation for the construction of Corridor 10 was purchased by 25 companies, and announced that a report of that Commission will be published in a few days. Kovacevic said that the Commission will consider all complaints from consortium Vojput and Hidroelektra Niskogradnja, after which it will make an announcement on the offers.
Wednesday, February 24, 2010
Sunday, February 21, 2010
Investors from Italy interested in cooperating with Serbian businesses
Belgrade, Feb.13 , 2010 (Serbia Today) – Minister of Trade and Services Slobodan Milosavljevic told reporters on Thursday that Italian investors are interested in cooperating with Serbian businesses in the areas of energy, commerce and infrastructure, primarily the Belgrade–Bar rail line project.
In a statement to Tanjug news agency, Milosavljevic, who is attending the Investment Forum of Italy and the countries of Southeast Europe in Verona, said that he held a meeting today with Italian Minister for Economic Development Claudio Scajola. It was concluded at the meeting that there is huge potential on both sides which should be utilized and that the Italian government supports Fiat’s presence and development plans in Serbia, said the Minister. He remarked that during his stay in Italy he will also talk with the Italian Deputy Minister for Economic Development Adolfo Urso and hold several bilateral meetings with representatives of Italian companies and ministers from states taking part in the forum. Milosavljevic voiced the expectation that Italian investors will increase their presence in Serbia in future, noting that the reconstruction of the Belgrade–Bar railroad is important for Italy since it implies railroad and road links between central and southern Europe, through the Balkans. He also explained that the energy power line, that will reach Italy across the Adriatic, is also significant, reiterating that energy and infrastructure are priority investment sectors for Italian companies.
In a statement to Tanjug news agency, Milosavljevic, who is attending the Investment Forum of Italy and the countries of Southeast Europe in Verona, said that he held a meeting today with Italian Minister for Economic Development Claudio Scajola. It was concluded at the meeting that there is huge potential on both sides which should be utilized and that the Italian government supports Fiat’s presence and development plans in Serbia, said the Minister. He remarked that during his stay in Italy he will also talk with the Italian Deputy Minister for Economic Development Adolfo Urso and hold several bilateral meetings with representatives of Italian companies and ministers from states taking part in the forum. Milosavljevic voiced the expectation that Italian investors will increase their presence in Serbia in future, noting that the reconstruction of the Belgrade–Bar railroad is important for Italy since it implies railroad and road links between central and southern Europe, through the Balkans. He also explained that the energy power line, that will reach Italy across the Adriatic, is also significant, reiterating that energy and infrastructure are priority investment sectors for Italian companies.
Best Entrepreneur Award for 2009 presented to Stublin
Belgrade, Feb. 12, 2010 (Serbia Today) – Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic presented the Best Entrepreneur Award on Wednesday to the owner of locks and chains production firm Stublin in Stojnik, Radovan Milojevic.
Dinkic said that the top five entrepreneurs shortlisted for the award can count on loans on favorable terms from the Development Fund. He also pointed out that entrepreneurs are courageous people with energy and purpose, and added that successful entrepreneurs need support. Deputy President of the Intesa Bank Executive Board Giancarlo Miranda stressed that this year the jury decided to present the runner-up, Mitar Obradovic, owner of the confectionary factory Nelly, with an award of €5,000. The other three entrepreneurs shortlisted for the Best Entrepreneur in the SME category are Miodrag Radovanovic, owner of the Radovanovic wine cellar, Zoran Knezevic, owner of the DIV Trades and Branka Radovanovic, co-owner of the PS Tech software company.The award is presented as part of a campaign organized by the Blic daily and Intesa Bank for the third year in a row, with the aim of promoting the Serbian entrepreneurial sector.
Dinkic said that the top five entrepreneurs shortlisted for the award can count on loans on favorable terms from the Development Fund. He also pointed out that entrepreneurs are courageous people with energy and purpose, and added that successful entrepreneurs need support. Deputy President of the Intesa Bank Executive Board Giancarlo Miranda stressed that this year the jury decided to present the runner-up, Mitar Obradovic, owner of the confectionary factory Nelly, with an award of €5,000. The other three entrepreneurs shortlisted for the Best Entrepreneur in the SME category are Miodrag Radovanovic, owner of the Radovanovic wine cellar, Zoran Knezevic, owner of the DIV Trades and Branka Radovanovic, co-owner of the PS Tech software company.The award is presented as part of a campaign organized by the Blic daily and Intesa Bank for the third year in a row, with the aim of promoting the Serbian entrepreneurial sector.
Friday, February 19, 2010
Inflow of funds to Serbia from Serbians living abroad 5.5bn dollars in 2009
Belgrade, Feb. 10, 2010 (Serbia Today) – Serbian Minister for Diaspora Srdjan Sreckovic said today that foreign remittances and inflow from Serbian immigrants increased by over 15% in 2009 and that they totaled $5.5 billion, according to World Bank estimates.
Sreckovic said that this is more than 14% of the country’s total GDP and more than half of Serbia’s entire exports. In addition, financial support to Serbia from the Diaspora was bigger even than the support from the International Monetary Fund and other financial institutions. The Minister said that this financial support contributed to the relative stability of the foreign exchange rate, since these foreign currencies mostly went to final use and thus their offer on the market increased substantially, which maintained the rate of the dinar. Sreckovic said that the greatest inflow of foreign remittances came from Germany, Switzerland, Austria, the United States, Canada, Australia and Sweden. He explained that the foreign currency inflow may be even higher because much of the money enters the country through informal channels to avoid large banking commissions typically ranging from 0.15% to 0.4%. The Minister pointed out that this data highlights the great financial potential of our Diaspora. Sreckovic said that since 2000 the Diaspora had invested more than $550 million in small and medium-sized enterprises, which now employ about 22,000 people. It is clear that a more active economic policy towards the Diaspora and offering specific investment projects in the future can give great impetus to the economic development of Serbia, concluded Sreckovic.
Sreckovic said that this is more than 14% of the country’s total GDP and more than half of Serbia’s entire exports. In addition, financial support to Serbia from the Diaspora was bigger even than the support from the International Monetary Fund and other financial institutions. The Minister said that this financial support contributed to the relative stability of the foreign exchange rate, since these foreign currencies mostly went to final use and thus their offer on the market increased substantially, which maintained the rate of the dinar. Sreckovic said that the greatest inflow of foreign remittances came from Germany, Switzerland, Austria, the United States, Canada, Australia and Sweden. He explained that the foreign currency inflow may be even higher because much of the money enters the country through informal channels to avoid large banking commissions typically ranging from 0.15% to 0.4%. The Minister pointed out that this data highlights the great financial potential of our Diaspora. Sreckovic said that since 2000 the Diaspora had invested more than $550 million in small and medium-sized enterprises, which now employ about 22,000 people. It is clear that a more active economic policy towards the Diaspora and offering specific investment projects in the future can give great impetus to the economic development of Serbia, concluded Sreckovic.
Wednesday, February 17, 2010
Real Estate Prices in Belgrade are among lowest in Europe
Belgrade, Feb. 08, 2010, ( Source Blic) - Recent studies show that Belgrade has the lowest prices for renting apartments and offices in the region.
Other than Budapest, in which the amount of available apartments has been greater than the demand in the last two years, Belgrade is the cheapest larger city in Southeast Europe, with apartments costing less than in Sofia or Tirana even. The prices for renting offices in all of Serbia have fallen to a level they have not been at since 2000.
According to research done by the consulting company Colliers, the average monthly cost for renting an A-class office or apartment in Belgrade is currently at EUR 13.9 per square meter. Office space manager in Colliers, Boško Tomašević, said that people looking to buy should take advantage of the “buy while its cheap” principle.
He said that some who rent sometimes break off agreements that are under favorable conditions and go to a new location, therefore, there are always locations springing up that are available but were being rented out for a longer period of time previously.
Both old buildings in the direct center of Belgrade and the modern office spaces in New Belgrade have a large percentage of locations that are not occupied. Colliers stated that in the second half of 2009, the increase in available A-class locations was 17.5 percent, and B-class locations on the outskirts of the city increased in availability by 20 percent.
Other than Budapest, in which the amount of available apartments has been greater than the demand in the last two years, Belgrade is the cheapest larger city in Southeast Europe, with apartments costing less than in Sofia or Tirana even. The prices for renting offices in all of Serbia have fallen to a level they have not been at since 2000.
According to research done by the consulting company Colliers, the average monthly cost for renting an A-class office or apartment in Belgrade is currently at EUR 13.9 per square meter. Office space manager in Colliers, Boško Tomašević, said that people looking to buy should take advantage of the “buy while its cheap” principle.
He said that some who rent sometimes break off agreements that are under favorable conditions and go to a new location, therefore, there are always locations springing up that are available but were being rented out for a longer period of time previously.
Both old buildings in the direct center of Belgrade and the modern office spaces in New Belgrade have a large percentage of locations that are not occupied. Colliers stated that in the second half of 2009, the increase in available A-class locations was 17.5 percent, and B-class locations on the outskirts of the city increased in availability by 20 percent.
Monday, February 15, 2010
China and Serbia signed power plant deal worth $1.25bn
Belgrade, Feb. 05, 2010 (Serbia Today) - Serbia’s public power enterprise EPS, Chinese CMEC company, and the Kosotolac power plant signed on Wednesday (Feb. 04) a pre-contract worth over a billion dollars.
The contact agreement, related to the plant’s revitalization, was signed by EPS General Manager Dragomir Marković, representative of CMEC Jin Chunseng and Director of Kostolac thermoelectric power plant Dragan Jovanović. The project includes the revitalization of the existing blocks B1 and B2 of the Kostolac B plant, each of 350 MW capacity, and their desulphurization, it was announced. The deal, worth USD 1.25bn, will also see an increase in the capacities of the open pit Drmno to 12 million tons of lignite per year, and the construction of new block B3. Minister of Energy and Mining Petar Škundrić, who attended the signing ceremony at the Serbian government in Belgrade this Wednesday, said that the Chinese partner will take part in the project with approximately 85 percent of total funds, which exceeds the figure of USD 1bn. Škundrić also told reporters that this was one of the biggest investment ventures in the forthcoming investment cycle in the energy area, adding that the project should promote strategic cooperation between Serbia and China.
The contact agreement, related to the plant’s revitalization, was signed by EPS General Manager Dragomir Marković, representative of CMEC Jin Chunseng and Director of Kostolac thermoelectric power plant Dragan Jovanović. The project includes the revitalization of the existing blocks B1 and B2 of the Kostolac B plant, each of 350 MW capacity, and their desulphurization, it was announced. The deal, worth USD 1.25bn, will also see an increase in the capacities of the open pit Drmno to 12 million tons of lignite per year, and the construction of new block B3. Minister of Energy and Mining Petar Škundrić, who attended the signing ceremony at the Serbian government in Belgrade this Wednesday, said that the Chinese partner will take part in the project with approximately 85 percent of total funds, which exceeds the figure of USD 1bn. Škundrić also told reporters that this was one of the biggest investment ventures in the forthcoming investment cycle in the energy area, adding that the project should promote strategic cooperation between Serbia and China.
Friday, February 12, 2010
Action plan for reviving production of SIK Kopaonik agreed
Belgrade, Feb 03, 2010 (Serbia Today) – Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic and his associates held meetings with representatives of furniture company Simpo and public company Srbijasume, at which it was agreed to make an action plan for reviving production at the forest industry complex SIK Kopaonik.
During this month, production will be launched in the saw-mill, as well as production of hardboard with the existing equipment, which will give work to almost 300 people who are employed in the company. This production will be based on profitable grounds because there is a demand for these products, both at home and abroad. Srbijasume will provide a regular supply of intermediate goods to SIK Kopaonik, while the Ministry of Economy and Regional Development will provide the working capital necessary for starting up the production. The possibility of opening more factories within the SIK Kopaonik system will also be contemplated with Simpo experts. Agreement was also reached to open an entirely new factory in autumn to produce high-quality hardboard. In order to realize this investment, the Ministry of Economy and Regional Development will secure a favorable €5 million loan through the Development Fund for the purpose of procuring new equipment. Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic will visit SIK Kopaonik in early March and once the investment in equipment is realised, he will officially open a new factory for manufacturing high-quality hardboard in autumn, the statement adds.
During this month, production will be launched in the saw-mill, as well as production of hardboard with the existing equipment, which will give work to almost 300 people who are employed in the company. This production will be based on profitable grounds because there is a demand for these products, both at home and abroad. Srbijasume will provide a regular supply of intermediate goods to SIK Kopaonik, while the Ministry of Economy and Regional Development will provide the working capital necessary for starting up the production. The possibility of opening more factories within the SIK Kopaonik system will also be contemplated with Simpo experts. Agreement was also reached to open an entirely new factory in autumn to produce high-quality hardboard. In order to realize this investment, the Ministry of Economy and Regional Development will secure a favorable €5 million loan through the Development Fund for the purpose of procuring new equipment. Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic will visit SIK Kopaonik in early March and once the investment in equipment is realised, he will officially open a new factory for manufacturing high-quality hardboard in autumn, the statement adds.
Thursday, February 4, 2010
The Construction of Elite four-star Hotel in Smederevo under question mark
Smederevo, Jan. 29, 2010 (Serbia Today) - In spite of the announcement by investor Integral energy from Belgrade that the elite hotel in Smederevo will receive its first guests at the end of 2010, the works have not even started yet. The investor has no money for restoration of the old hotel, and the unofficial information is that the project worth 10m EUR is ruined and that the building is for sale.
Citadela Terme is the name of a modern four-star hotel that was supposed to be built in the place of the dilapidated hotel of former company Jedinstvo. In addition to the computer animations of the exclusive facility, the investor's website also contains the information that the hotel will have 106 rooms, three restaurants, congress hall, spa center and indoor aqua park after the restoration. The complex would occupy the surface of nearly 3 ha and, because of the thermal waters whose temperature ranges between 25 and 31 degrees Centigrade, construction of two outdoor swimming pools with thermal water was in the pipeline as well. According to the website, the deadline for the hotel to be opened is the end of this or the beginning of the next year.
However, instead of a four-star hotel, the ruined building at the entrance to the city is still standing and the restoration has not even begun.
“We don't know what happens with this project. The investor visited us last year to ask about necessary documentation and licenses. We don't have any official information on the destiny of this project” says Vladan Biskupljanin, the Assistant Mayor for Investments and Development.
Unofficially, due to the crisis and lack of money, the project is already given up and the owner is looking for someone to buy the old hotel. However, the investor claims that it is not giving up in spite of the problems.
“ We do not make hostel, but small tourist attraction, which requires a lot of money. The crisis contributed to the fact that the banks do not want to provide support. Even foreign partners are interested, but nobody's offering the money. The sale exists as an idea, but the situation is the same. Nobody wants to pay a dime” says Milan Marković from Integral Energy.
Citadela Terme is the name of a modern four-star hotel that was supposed to be built in the place of the dilapidated hotel of former company Jedinstvo. In addition to the computer animations of the exclusive facility, the investor's website also contains the information that the hotel will have 106 rooms, three restaurants, congress hall, spa center and indoor aqua park after the restoration. The complex would occupy the surface of nearly 3 ha and, because of the thermal waters whose temperature ranges between 25 and 31 degrees Centigrade, construction of two outdoor swimming pools with thermal water was in the pipeline as well. According to the website, the deadline for the hotel to be opened is the end of this or the beginning of the next year.
However, instead of a four-star hotel, the ruined building at the entrance to the city is still standing and the restoration has not even begun.
“We don't know what happens with this project. The investor visited us last year to ask about necessary documentation and licenses. We don't have any official information on the destiny of this project” says Vladan Biskupljanin, the Assistant Mayor for Investments and Development.
Unofficially, due to the crisis and lack of money, the project is already given up and the owner is looking for someone to buy the old hotel. However, the investor claims that it is not giving up in spite of the problems.
“ We do not make hostel, but small tourist attraction, which requires a lot of money. The crisis contributed to the fact that the banks do not want to provide support. Even foreign partners are interested, but nobody's offering the money. The sale exists as an idea, but the situation is the same. Nobody wants to pay a dime” says Milan Marković from Integral Energy.
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