Croatian furniture maker Sobocan to invest 55 mln kuna (7.3 mln euro) by end-2024

Croatian furniture producer Sobocan said it plans to invest 55 million kuna ($7.7 million/7.3 million euro) by the end of 2024.

The largest part of the sum will be invested in the construction of new production capacities, new technology and renewable energy sources, as well as in improvement of internal processes, CEO Dejan Sobocan said in a statement last week.

On Friday, the company officially opened a 900 kWh solar park with 2,400 solar panels on the roof of its production plant in Mursko Sredisce, northern Croatia.

The total value of the investment in the solar plant is 4.5 million kuna, of which 2.2 million kuna was provided from European Union funds, and the rest came from the company's own funds.

Sobocan is one of the few Croatian manufacturing companies that cover almost 70% of its energy demand by solar energy, the company owner Franjo Sobocan said.

The company's main exports markets are Germany, Austria, Slovenia, Ukraine. It also exports to customers in Africa and Asia.

(1 euro=7.565 Croatian kuna)

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