Business News

Slovenia and Serbia Joining Construction Capacities on Third Markets

Ljubljana/Belgrade, 25 January (STA) - Feniks, a Slovenian-Serbian construction consortium of more than 40 companies that is focused on a joint foray into third markets, will be officially launched with a ceremony in Belgrade on Wednesday.

The project, initiated by Slovenian industrial conglomerate Hidria and Serbia's PSP Farman, is targeting Russia or Eastern and SE Europe as well as the Middle East and Far East, business daily Finance reported on Tuesday.

It includes 15 Slovenian companies that are directly or indirectly involved also in construction. On the list along with Hidria are companies such as household appliance maker Gorenje, maker of pre-fabricated construction panels Trimo Trebnje, and window and door maker MIK Celje.

Hidria will participate above all with it solutions from the field of air conditioning, heating, renewable energy use and energy management in buildings in general. Hidria boss Iztok Seljak will also be the president of the consortium, Finance reported.

"In the initial phase, the Slovenian side will not feature the typical major builders such as Primorje or GH Holding. This however does not mean that these companies will not join later. It is meanwhile a fact that healthy finances are one of the conditions for participation," Seljak explained.

The consortium has been endorsed by Slovenian President Danilo Türk and Serbia's Boris Tadić. The latter is also to meet the founders of the project.

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