Croatia’s Nexe Grupa Plans To Invest 90 Mln Euro in Renewables by 2015
Croatian building materials producer Nexe Grupa plans to invest 90 million euro ($129 million) in biomass, biogas and small hydro power plants by 2015, local media reported on Monday.
The construction of the company's first 1.0 megawatt biomass power plant will start in the fall in the Fericanci municipality, in eastern Croatia, Nexe Grupa CEO Ivan Ergovic told business news portal Bankamagazine (www.bankamagazine.hr) in an interview.
Nexe is also developing a biomass project in partnership with the town of Nasice, in eastern Croatia, and has offers from other partners for several more locations, the official said.
There is also an idea to build a cogeneration plant in Koprivnica, in northern Croatia, that will make partial use of the waste produced by the group's sawmills in the area.
Ergovic said Nexe Grupa's revenues should rise to 1.5 billion kuna ($292 million/204 million euro) in 2011 after posting a 15% drop to 1.25 billion kuna in 2010 when the business operated at a loss.
“We have successfully passed several prequalification tenders for jobs on transport corridor Vc and our subsidiary Nexe Gradnje has garnered more than 200 million kuna in building contracts in Croatia,” Ergovic said.
“Our Bosnian unit GP Put won a 67 million euro road construction deal in Kenya last year which should generate a revenue of around 15 million euro this year,” Ergovic said.
The group's Bilokalnik Drvo unit, a producer of planks, joinery and interior doors, has agreed a $16 million export deal in Qatar, where the company expects more contracts.
In Serbia, the Croatian group will open in May a new concrete factory, Ergovic said. In the fall, its unit Jelen Do, based in the Serbian village of the same name, will put into operation a new lime furnace worth 11.5 million euro, he added.
Nexe Grupa (www.nexe.hr) comprises around 20 companies operating in Croatia, Bosnia, Serbia and Montenegro. It is active in construction and agriculture and in the production of cement, bricks, tiles, concrete and lime.