Croatia’s Koncar signs 17.4 million euro deal in Albania

ZAGREB, June 3؃roatian blue-chip electrical equipment producer Koncar Elektroindustrijaon Wednesday said it signed a 17.4 million euro deal for the reconstruction of three substations in Albania.
The project is funded by a credit line from the World Bank as part of the Energy Community of South East Europe (ECSEE) APL2 project, Koncar said in a statement posted on the website of the Zagreb Stock Exchange (ZSE).
The reconstruction should be completed in 20 months.
The ECSEE project aims to develop a functional regional electricity market in South East Europe through the implementation of priority investments supporting electricity market and power system operations in electricity generation, transmission and distribution, and technical assistance for institutional systems development and project preparation and implementation. The ECSEE programme covers Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Romania, Serbia and Montenegro, Turkey and Kosovo.
Koncar (www.koncar.hr) manufactures goods ranging from equipment for power plants and trams to portable computers and cookers.
Koncar is one of the 24 components of the Crobex index of the Zagreb bourse. Its shares traded at 425 kuna ($83/58 euro) by 1312 GMT on Wednesday, down from Tuesday’s close of 445 kuna.