Kazakhstan acquires company in Serbia
, NewsKazakhstan’s Zhol Zhondeushi Company LLP has purchased the Serbian company ZGOP a.d. (Novi Sad), the only company performing capital overhaul and construction of railways in Serbia, the Ministry for Investments and Development of Kazakhstan said.
The contract was signed in Belgrade on February 8, in the Ministry of Economy of Serbia, with the participation of the Serbian Minister of Economy Goran Knežević and official representatives of Zhol Zhondeushi Company LLP and ZGOP a.d.
The deal was a result of negotiations held in December 2016 between the President of Kazakhstan Nursultan Nazarbayev, the President of Serbia Tomislav Nikolić and the Prime Minister of Serbia Aleksandar Vučić that focused on the development of investment cooperation between Kazakhstan and Serbia.
This Contract will contribute to cooperation between the two states and support trade and economic relations between Kazakhstan and Serbia.
Currently the Kazakhstan company is embarking on a new path of development where its Serbian subsidiary, ZGOP a.d. Novi Sad, will play a major role. The newly-acquired company that has been undergoing restructuring since 2011 now employs 250 people. A number of Austrian, Russian, Chinese, French and Turkish companies also showed interest in acquisition of ZGOP a.d.’s shares. According to local experts, the business became attractive after Serbia had been granted international loans for rehabilitation of its railways, including a loan from the European Bank for Reconstruction and Development.
Zhol Zhondeushi Company LLP provides services in construction and rehabilitation of motor roads, implementation of transport and logistics infrastructure projects, including construction of runways and development of sea ports. The company employs over fifteen hundred specialists.
The company is opening up new perspectives in the markets of Russia, the Middle East, and Europe.
LATEST NEWS
- May 11, 2023 Mining Industry, Science and Communications, bridging the gaps
- May 11, 2023 Communicating Energy, new tech industries communications
- May 9, 2023 Serbia economy briefing: Transformation of “Elektroprivreda Srbija”
- April 24, 2023 Without sustainable mining, there is no renewable future
- March 25, 2023 Europe revives mining to reduce dependence on the import of key raw materials, the advantages of Serbia as materials supplier
- March 8, 2023 Calcium Carbonate Industry, Reshaping the Market Growth, Serbian supplier to match European industrial demand
- February 28, 2023 Serbian exploitation miner Belkalhan could become EU primary supplier of Graphite critical raw material
- February 28, 2023 Calcite/calcium carbonate premium quality supplier from Serbia opening supply contracts for 24,25, pharmaceutical/chemical/food processing industry opportunity for JV
- February 16, 2023 Serbian Belkalhan calcite & graphite mining developer invites JV partners for joint critical raw materials exploitation
- February 15, 2023 Petroprocess to modernize EPS power plant CEMS system with state of the art equipment
- June 8, 2023 Serbia, The credit activity of banks towards the non-monetary sector continued to slow down
- June 8, 2023 The Government of Serbia has defined a quota in the market premium system for solar power plants
- June 8, 2023 Serbia, Chinese Zijin Copper is expanding: it owns a five percent stake in Belt and Road Institute
