CONTRACT WITH THE Hungarian MVM Group opens the doors of Europe for Energotehnika Južna Bačka

13. August 2021.

MVM Group as the leading Hungarian energy company has signed a strategic agreement with Maneks Group, the owner of the leading energy utility construction companies in Serbia “Energotehnika – Juzna Backa” Novi Sad and “Elektromontaza” Kraljevo.

MVM Group and Serbian Maneks Group have entered into a strategic cooperation agreement for the implementation of joint projects on the field of energy utility construction market and to promote cross-border cooperation between Hungary and Serbia.

Energotehnika Južna Bačka and Elektromontaža Kraljevo, part of the Maneks Group, are the leading companies in the energy market in Serbia and in the Western-Balkan region. The high quality, reliability and environmental friendliness of the systems they design and implement, guarantee that with an experienced partner MVP Group will gradually increase its presence in the Balkans which is in line with MVM Group’s regional expansion strategy. On the other hand, the agreement with MVM Group enables Maneks Group and the companies that are part of Maneks Group to entering the Hungarian market.

Based on the Memorandum of Understanding signed on 15 July 2021, the parties will work together to advance renewable energy targets and decarbonization plans in Serbia, jointly participate in power plant and transmission network construction and modernization projects and share experience on recently implemented energy legislations.

The agreement signed today with Maneks Group is the first agreement of such nature that MVM Group has concluded with a company from the Western Balkans.