Energoinvest This Year Expects Sales of 422 Million KM

April 15, 2013 1:00 PM

EnergoinvestThe Director of Energoinvest d.d. Sarajevo Enes Čengić said that at the end of last year this company had more than hundreds of millions of dollars worth of business.

“We are currently struggling to find new sources of money, because the signing of a contract does not mean that the money will come right away. Conditions have to be created to obtain the first advances, from which some other costs have to be paid, but I think that in 2012 we finished in the best possible way and taking into account the actual circumstances that are not a product of our knowledge or ignorance’’, said Čengić in an interview with ‘Poslovne Novine’.

He said that Energoinvest has a problem with previous debts, and that the company is burdened with various claims and relatively poor structure in selected segments.

At the end of 2012 Energoinvest received nearly all of the work from all the companies in the Balkans and huge contracts.

“In Albania we received a great deal valued at over 30 million euros, then in Iraq, Ethiopia, and in Algeria where we received a job worth around 16 million euros. Today, Energoinvest is among the four biggest companies that deal with production of high voltage circuit breakers and disconnectors in Mexico, said Čengić.

He said that Energoinvest’s business this year should amount to 422 million KM.

The Director of Energoinvest said that they also have many problems to maintain current operations and that they need at least six months of financial support that they received in a good amount from the FBiH government and the FBiH Development Bank.

“Our old debts still plague us, we are realizing new jobs, but we need time to pay them back. The FBiH government in the last three months made a guarantee fund that through the state agencies for guarantees (IGA) of five million turned into a fund of 25 million KM. With this, conditions were formed for the government to directly enable companies that work abroad to receive an adequate amount of money for a guarantee for the first time’’, said Čengić.

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