In Balkans and SE Europe
Quantum Corporation, which has a strategic stake in five power stations in the Republic of Serbia through its Euroinvestment Fund, is eyeing further investments in new energy deals as it proceeds to strengthen its presence in the emerging markets of south eastern Europe.
Quantum Corp. Executive Chairman Nasos Ktorides told the Financial Mirror that the group is committed to increasing its presence in the region due to “very promising prospects”.
The rapid economic expansion of the south-east Europe area is expected to generate increasing demand for energy and Quantum is increasing its investments in the region to take advantage of this development.
Through its Euroinvestment Fund, Quantum has a strategic stake in five electricity generating stations, two of which are thermoelectric with a total installed capacity of 600MW, and a further three hydroelectric units, with a total installed capacity of 822MW.
Ktorides explained that the two thermoelectric plants have their own lignite resources, which should ensure full production for at least another 30 years.
“One of the thermoelectric power plants, Gasco, with total capacity of 300 MW, is close to securing a licence for a second unit which, once finalised, will boost the electricity generating capacity several fold”.
Export potential
Total output at the five power stations was 5.077 mln KWh in 2005, up from 4.870 mln KWh in 2004 and 4.657 mln KWh in 2003. In 2004, the five stations had a net export surplus equivalent to 1.833 mln KWh.
This excess surplus and the potential to further increase electricity production is one of the key reasons according to Quantum Managing Director George Killas why the company wants to secure its foothold in Republic of Serbia and beyond.
“With rising energy prices due to international developments and increasing demand coupled by the fact that Quantum is investing in energy producing plants which they have their own raw material supply, means that the future prospects become even better,” said Killas.
Strategic investments
Quantum Corporation, is a wholly owned Cyprus company with strategic stakes in several fields. In addition to its extensive activities in the energy sector in the Balkans through the managing of Euroinvestment Fund that invests in privatised state-owned enterprises in Republic of Serbia, Quantum Corp. is the second largest stake holder in the share capital of Emporiki Bank (Cyprus), after Emporiki Bank of Greece.
Furthermore, Quantum is active in the management of information and advanced technology companies and manages a leading and rapidly advancing company, which in turn is associated with a Greek public company quoted on the Athens Stock Exchange with a market capitalisation in excess of EUR 10 bln, of which it owns 20%.
Quantum is also active in the management of companies developing alternative, environmentally-friendly forms of energy and in the management of land and immovable property.
