Minister Shushnjar visited the plant of TT Kabeli in Poznań

Croatian Minister of Economy Ante Šušnjar visited the production site of TT Kabeli in Poznanovac on Tuesday following the opening of a new laboratory at the Končar Institute for Electrical Engineering in Bedekovčina. The visit included a tour of TT Kabeli's facility in Široki Brijeg, which is constructing a factory for producing medium- and high-voltage cables within the industrial zone of Poznanovac. Šušnjar emphasized during his visit that the upcoming National Strategy for Industrial Development will support the growth of new projects in the electrical industry and enhance existing ones, aiming to strengthen Croatia’s manufacturing sector. He noted that Croatian companies in the electrical industry have successfully operated in demanding foreign markets and highlighted that the future of the electrical industry across Europe looks promising, with Croatia and its firms playing a significant role. The government is preparing financial programs, including factoring services, which are expected to ease operations for exporters starting in the fall. Responding to questions about the domestic market, Šušnjar stated that such products are needed in Croatia, but the production capacity of local manufacturers far exceeds domestic demand. “Export is what makes an economy stable, making gross domestic product stable and enabling further investment and economic development,” he said. Marina Šaravanja, a member of TT Kabeli’s board of directors, pointed out that the investment represents the largest individual investment in the company’s history. She described it as strategic, noting that medium- and high-voltage cables are considered crucial for energy infrastructure. The value of the investment exceeds 40 million euros, and she added that this would not be TT Kabeli’s only investment in Croatia. The company currently produces low-voltage cables and exports them to over 40 to 50 countries worldwide. With the new factory, TT Kabeli aims to achieve a stronger position in the global market. Šušnjar’s visit comes amid growing emphasis on boosting domestic manufacturing capabilities and securing long-term investments in key sectors. His comments underscore the government’s focus on supporting industries that contribute significantly to export revenue and national economic stability. TT Kabeli has been expanding its operations in recent years, reflecting broader trends in Croatia’s industrial policy aimed at reducing reliance on imports and fostering self-sufficiency in critical areas. The company’s decision to build a specialized facility for high-voltage cable production aligns with these goals and signals confidence in the country’s ability to compete internationally. Šušnjar reiterated the importance of developing a robust industrial base, particularly in sectors that provide essential goods and services both domestically and abroad. He stressed that financial instruments such as factoring would help exporters manage cash flow more effectively, allowing them to reinvest in growth and innovation. The minister’s remarks were met with approval from TT Kabeli officials, who see the new factory as a milestone in their corporate strategy. They expressed optimism about the project’s potential to create jobs and stimulate regional economic activity. Šušnjar’s visit highlights the government’s ongoing efforts to engage directly with private sector leaders to identify opportunities for collaboration and investment. By visiting sites like TT Kabeli’s, he aims to reinforce public confidence in the direction of economic policy and demonstrate tangible progress toward national objectives. The construction of the new factory is expected to take several months, after which it will begin operating at full capacity. This marks another step forward in Croatia’s push to modernize its industrial landscape and secure a more prominent place in European markets.