Insolvent Slovenian firm "continues work in Serbia"

Slovenia's largest construction company SCT will not halt its projects in Serbia, it has been announced. The biggest of those is the Ada Bridge, currently under construction over the Sava River in Belgrade. Insolvent Slovenian firm "continues work in Serbia" The Slovenian company declared insolvency in late 2010. The city of Belgrade does not seem concerned with this development, with officials of the Land Directorate saying that the construction of the bridge has not been jeopardized. "The contract was signed three years ago and works are progressing as agreed," said Nenad Bajic of the Land Directorate. Other than the bridge itself, two months ago the Slovenian company was given the job to build the bridge's access roads. The contract is worth EUR 36mn and "thus far not a single dinar has been paid to it", says our reporter. In October, SCT's chief executive officer Ivan Zidar was sentenced to a year and a half in prison in Germany on charges of corruption. Zidar and several of his close associates have also recently been indicted with money laundering and abuse of official position. Meanwhile, the Serbian Chamber of Commerce (PKS) officials are pointing out that this has not been the first time that Serbia has awarded contracts to companies in financial trouble.

Insolvent Slovenian firm "continues work in Serbia"

The Slovenian company declared insolvency in late 2010.

The city of Belgrade does not seem concerned with this development, with officials of the Land Directorate saying that the construction of the bridge has not been jeopardized.

"The contract was signed three years ago and works are progressing as agreed," said Nenad Bajić of the Land Directorate.

Other than the bridge itself, two months ago the Slovenian company was given the job to build the bridge's access roads. The contract is worth EUR 36mn and "thus far not a single dinar has been paid to it", says our reporter.

In October, SCT's chief executive officer Ivan Zidar was sentenced to a year and a half in prison in Germany on charges of corruption. Zidar and several of his close associates have also recently been indicted with money laundering and abuse of official position.

Meanwhile, the Serbian Chamber of Commerce (PKS) officials are pointing out that this has not been the first time that Serbia has awarded contracts to companies in financial trouble.