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The Government of the Republic of Serbia

In the service of citizens

Serbia plans huge investment in transport, telecommunications in 2004

Kostunici, 14 May 2004

Serbian Minister of Capital Investment Velimir Ilic said at the presentation of the German firm Tenovis, a world leading provider of ISDN services for business customers, that around €1 billion will be invested in Serbia’s transport and telecommunication sectors this year.

Velimir Ilic

Ilic said that €320 million will be invested in telecommunications, €450 million in road infrastructure, €57 in railways, and a total of €53 in the Belgrade airport and air traffic control systems.

According to Ilic, these funds do not cover the building of a motorway through the Sumadija region of Serbia, which is estimated to cost between €800 million and €900 million. He added that many international firms have shown interest in the concession for this project.

Ilic also said that 1,000 train wagons are being repaired by Serbian firms from Subotica, Smederevska Palanka, and Nis, adding that that the European Investment Bank (EIB) has offered a favourable loan of €100 million to state telecommunications company Telekom Srbija.

Tenovis’s general manager, Alex Weynants, said the company is Europe’s third largest provider of ISDN systems, with an estimated 200,000 users. Tenovis has 6,000 employees in outlets in around 20 countries and it reported a profit of €890 million last year, said Weynants.