ITM Group to Build Two Wind Farms Near Pancevo – Hydro Power Plants on Montenegrin Border Planned for Next Year

ITM Group is completing the construction of a wind farm near Pancevo, with a power of 120 MW, and is soon to start another one, of 270 MW, in the same location, as revealed for eKapija by the president of the group, Toplica Spasojevic.

– There is no alternative to alternative energy sources – he said.

When asked about the announcement that ITM is to also build hydro power plants, which he stated for our portal at the beginning of the pandemic, Spasojevic says that he hasn’t given up on that intention:

– We have postponed it a bit due to the changes to the regulations and the protests, but we are preparing to build two of them on the Montenegrin border, with 21 and 13 MW of power, next year.

Only quality goods reaching Russia

When it comes to the production and distribution of frozen fruit, our interviewee says that they have renewed the cooperation with Russians following the initial shocks, when Russian banks were removed from SWIFT.

– There is plenty of demand for our vegetables, although they are trying to replace those imports with their own production, as they’ve done with wheat, although peas and string-beans, due to instant freezing and storage, are a somewhat harder technology, which they haven’t mastered yet. On the other hand, they’ve considerably reduced the import of apples and I expect them to soon become exporters in that field, just like with wheat, but they’re still buying quality varieties from us – Spasojevic says and adds that the price of transport to Russia has increased from EUR 3,000 to EUR 7,000, so only quality goods are reaching Russia now, as well as what they can’t produce themselves.

Russians to buy car parts from us

The head of ITM also expects Russians to soon start buying another type of goods in Serbia:

– Some technologies that they can’t get elsewhere they will buy from us, such as, for example, spare parts for the car industry, there will be a great demand for it. They now have the stock, but it will soon be depleted, and we have a developed car industry in the domain of spare parts.

Americans eyeing cheap European companies

Regarding the current drop of the value of the euro compared to the dollar, Spasojevic believes that American companies will start buying European companies in greater numbers with that 15% discount, which is how much the dollar is stronger than the euro at the moment.

When it comes to our economy, he adds, it is tied with the euro, it takes goods and loans in that currency and the drop in the value of the euro is not a problem for now, but it will bring problems in the long term.

– Our companies are dependent on energy sources and energy sources are calculated in dollars. When you’re buying oil, you need to secure the price in dollars, and you sell the goods where everything is tied to the euro, so you’re losing – Spasojevic warns.

B. P.

ITM Group d.o.o. Beograd

ITM group

Toplica Spasojević

wind farms

hydro power plants

construction

frozen vegetables

export

drop in value of euro

operations

car industry