Končar–Siemens Energy Project Expands Power Transformer Manufacturing
A foundation stone has been laid for the expansion of a major power transformer manufacturing facility operated by Končar – Power transformers in Zagreb, marking the start of a new investment phase valued at approximately $280 million.
The project, located in the Jankomir industrial zone, is a joint venture between Siemens Energy and Končar, and aims to expand production capacity for large power transformers.
The investment comes amid growing global demand for electricity transmission and distribution equipment, driven in part by the ongoing energy transition and the expansion of power grids.
Once completed, the expansion is expected to strengthen the facility’s position as a global manufacturing hub for large power transformers, while increasing overall output capacity.
The ceremony was attended by several government officials, including Croatian Prime Minister Andrej Plenković, as well as representatives from industry and international partners.
According to project details, the expansion is part of a broader investment cycle led by the Končar Group, which includes approximately $865 million in total investments in energy-related sectors. The project is also expected to create around 350 new jobs, including positions in both manufacturing and highly skilled roles.
The company, established in 1995, is majority-owned by Siemens Energy (51%), with Končar holding a 49% stake. It has developed into one of the established global producers of large power transformers.
Executives from both partner companies indicated that the investment is intended to support long-term competitiveness, enhance technological capabilities, and improve the resilience of global supply chains for critical energy infrastructure.
The expansion builds on a broader strategy initiated in 2022 and reflects continued investment in industrial capacity, workforce development, and advanced manufacturing processes.
Source: Končar – Power transformers
