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March 21, 1996

SERBIA’S PTT AND ALCATEL SIGN $35.73M TELECOMS DEAL

By CBR Staff Writer

Serbia’s postal company PTT and Alcatel Alsthom SA of France have signed a deal worth around $35.73m to upgrade the country’s ravaged telephone system, Belgrade papers reported on Wednesday. Under the agreement, 12 telephone exchanges with a capacity of 300,000 lines will be installed in Serbia by the end of the year. PTT Serbia, Siemens AG and the VF-TEL joint venture between local company Genex and Siemens, reached agreement on production and delivery of new exchanges to create an additional 250,000 phone lines by year-end. Siemens said that it is also interested in investing in the railways, electrical and health sectors in Serbia.

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