Hidroelektra returns to Russia

The procedure in Russia is very demanding, formally they are preparing for this market and they have  began to monitor applications.

Hidroelektra engineering is establishing representative offices in the Russian Federation while in the process of pre-bankruptcy settlement act.

Even though they claim it is just an administrative matter, the fact is, it will be the first opening of this branch on this type of market after a series of closing. Several of domestic construction companies had their representatives in Russia during the former USSR. All of the representative offices are shut down, except Industrogradnjina, which still exists but is inactive. Recently, for the same reason, Hidroelektra’s representative office in Hungary had been shut down and therefore, the fact that the Management Board gave a green light for the opening of the representative office in Russia, draws attention.

The draw itself unquestionably demonstrates interest for the activities in Russia, but this is just a formal preparing of the basics for starting a business. This was confirmed by chairman of the committee Ivan Paladin, a member of the Board of Institut IGH, whose majority owner is Sergei Gljadelkin, civil engineer and billionaire from Moscow, and also a strategic investor for Hidroelektra. The process of opening branch offices in the Russia is very challenging and it is the first step along with the obtaining licenses for performing of construction works. Hidroelektra began monitoring tenders in Russia, and some partners started discussions about potential businesses.

Source: Poslovni dnevnik

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