The Koncar, electrical, transport and energy company plans to generate a growth rate of five to seven percent, CEO Darinko Bago said on Monday at a celebration of the 95th anniversary of that company, adding that contracts valued at 80 million euro had been contracted in January alone.

"A growth rate of five to seven percent means investments in production and improving efficiency and caring for environment protection and human safety and that represents the foundation of growth and development in Koncar," Bago said.

"In the first month of this year, we contracted jobs valued at more than 80 million euro," he added.

Asked by reporters to comment announcements by the new government on the privatisation of state owned companies that were not of strategic interest, Bago said that he heard that idle property would be activated. If the state however decides to privatise Koncar and sell its share, that's its sovereign right and we, as the company's management, according to our authorities, will do our share of the job," Bago said.

Asked what he expected of the new government as far as investments were concerned, Bago said he was pleased to hear of investments in the energy sector. Koncar sees itself there, he said. The second thing is a growth in exports with which, he underscored, he was satisfied with and in his capacity of the president of Croatian exporters - an association aimed at contributing to Croatia's development and economy.

Koncar was established in 1921 as Elektra and that year came under the ownership of the Siemens Group and operated under that name until the end of World War II. It was renamed in 1946 to Rade Koncar until 1990. As of 1 January 1991 it was transformed into a shareholders' company and named Koncar-Elektroindustrija.

Thousands of delivered energy, distribution, special and gauging transformers, generators, power stations, locomotives, trains and other products to more than one hundred countries is proof of the Koncar Group's achievements, Bago underscored at Monday's celebrations.

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