Business News

Riko Gets EUR 54M Engineering Deal in Belarus

Ljubljana, 24 February (STA) - Engineering company Riko signed a contract in Belarus on Wednesday closing a EUR 54m deal for building and connecting two electrical substations, the company told the STA on Thursday. Riko plans to involve Slovenian power grid equipment companies in the project.

According to Riko's spokesperson, the investor is electricity and heating distributor Minskenergo RB, which supplies the Belarusian capital and produces 40% of electricity in the country.

The two 110KV/10KV substations are a good gateway for entry in the Belarusian energy market for Riko, believes the company headed by one of Slovenia's top businessmen, Janez Skrabec.

Riko - a company that does most of its business abroad, especially in the countries of the former Soviet Union and Yugoslavia - sees an opportunity in Belarus focusing on renovation of its energy infrastructure and strategic investments in substations and renewables.

The company has thus applied for a number of energy projects in Belarus.

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