Croatia, Zagreb: KONČAR – Energetski transformatori (KPT) has marked the start of a major expansion of its large power transformer factory in Jankomir with a foundation stone ceremony.
The project, valued at around $300 M (€260 M), is part of a broader investment cycle and represents a strategic step to increase production capacity and strengthen the company’s global position. The facility is a joint venture between Siemens Energy and KONČAR Group.
The expansion comes at a time of strong growth in global demand for transmission and distribution equipment, driven by energy transition and grid development. Once completed, the project is expected to create around 350 new jobs, including 250 in production and 100 highly qualified roles.
Company representatives highlighted that the investment goes beyond capacity increase, focusing also on technology upgrades, process optimisation and workforce development to meet increasingly complex market requirements.
The Jankomir facility, established in 1995, is considered one of the leading factories for large power transformers worldwide. Siemens Energy holds a 51 % stake in the joint venture, while KONČAR holds 49 %.
The expansion is part of a longer-term strategy to enhance supply chain resilience and support customers in delivering critical energy infrastructure projects. It also reflects continued efforts to strengthen industrial capabilities in response to sustained pressure on global supply chains.
Emphasising the importance of the project for the Croatian economy, Prime Minister Andrej Plenković stated: “This industrial project is of exceptional importance for Croatia. It forms part of a strong investment cycle in which KONČAR, together with its partners, is investing a total of $935 M (€800 M) in a sector directly linked to one of the key global themes – energy and the development of power networks. With this project, KONČAR further strengthens its industrial capacity, export potential, and position among leading manufacturers in the energy sector.”
President of the Management Board, Boris Potočki said: “This investment represents a step beyond increasing capacity; it is about strengthening our long-term competitiveness in the global market.”
“The long-standing partnership between KONČAR and Siemens Energy enables an effective response to growing demand for power transformers at a time when global supply chains remain under pressure. By continuously expanding production capacity, supply chain resilience is strengthened and customers are reliably supported in delivering critical power infrastructure,” stated Tim Holt, Siemens Energy Board Member.
Gordan Kolak, President of the Management Board of KONČAR, said: “Our partnership with Siemens Energy has been delivering tangible results for decades, and this investment is its natural continuation. Together, we are developing projects with global reach that demonstrate how the synergy of international experience and domestic industrial expertise can create long-term value and strengthen Croatia’s position on the global energy transition map.”
Source: KONČAR Group
