Greek Group GEK-TERNA, which is actively involved in the sector of constructions and energy production, decided to establish a subsidiary in Cyprus.

According to announcement in the Athens Stock Exchange, the establishment of subsidiary in Cyprus (100%) will be the vehicle for the Group’s operations in Eastern Mediterranean and Middle East. The subsidiary, TERNA OVERSEAS LIMITED, will be based in Nicosia and will observe the markets in the Middle East, Africa and Southeast Europe. Its share capital will be of €250 thousand.

The Company also established a 100% subsidiary in Russia (Moscow), which is actively involved in the purchase, sale, lease, reconstruction and management of properties.