On Friday, Končar announced the signing of an agreement worth EUR 188m (Končar’s share at nearly EUR 80m) with Romanian company Elektromontaj, for the revitalization of Vidraru Hydropower Plant.
This comprehensive project, valued at over EUR 188m with KONČAR’s share at nearly EUR 80m, includes design, production, equipment delivery, installation, testing, and commissioning. The Vidraru plant, operational since 1966 and vital to Romania’s energy infrastructure, will undergo major upgrades to enhance efficiency and extend its operational life.
The project’s customer is Romania’s largest electricity producer that recently underwent the IPO process to the Romanian stock exchange (BVB), Hidroelectrica, which has a hydropower capacity of 6.3 GW. This contract marks KONČAR’s successful entry into a new market, bolstering its global competitiveness.
This latest agreement marks the penetration of Končar to the Romanian market reinforcing its global market competitiveness. This step secures Končar’s position as one of the leading Croatian exporters. Finally, Končar noted that several companies within the Končar Group will join forces in the project.
Končar Group key financials [FY 2022 vs. FY 2023]
Source: ZSE, InterCapital Research
