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Major construction firm has its accounts frozen, halts work on highway

Doprastav, one of the biggest construction companies in Slovakia, has halted production on its various projects after its banks froze its accounts, the Hospodárske Noviny daily reported in its June 4 issue.

Doprastav, one of the biggest construction companies in Slovakia, has halted production on its various projects after its banks froze its accounts, the Hospodárske Noviny daily reported in its June 4 issue.

“At the moment there are signals that the situation on construction sites is difficult, and we are working in a limited regime,” Doprastav’s chairman, Juraj Androvič, told the Hospodárske Noviny daily. “As soon as we access the accounts, we will continue,” he said.

Doprastav intends to persuade the banks to unblock its accounts with the help of a new investor, František Hodorovský. Several other shareholders have refused to supply company with more capital. Doprastav needs about €17 million to win the trust of the banks, Hospodárske Noviny wrote.

Construction has already been halted on the main cross-country highway D1 section between Fričovce and Svinia, near Prešov, and on construction of a mains water and sewage system in Trenčianska Turná. Spokesperson for the National Highway Company (NDS) Marcel Jánošík confirmed that the NDS was addressing the situation.

Source: Hospodárske Noviny

Compiled by Radka Minarechová from press reports
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