PSG has signed a Memorandum of Understanding for strategic co-operation with its Turkish partner Renaissance Holding

PSG Group has signed a Memorandum of Understanding for strategic co-operation with its Turkish partner Renaissance Holding. The Agreement was signed during the official visit of Czech President Vaclav Klaus in Ankara. PSG Members of the Board were among the sixty Czech businessmen participating in the mission.

As Ivan Vesely, PSG Vice-Chairman stated,” It is an important milestone for our future expansion to foreign markets, especially into Turkey, Russia and Iraq and it gives us the opportunity to work on new types of big projects.“

The first joint project of the two companies has been the Administrative Centre Pravda in St Petersburg, Russia, which PSG delivers on a turn-key basis for the Real Estate branch of Renaissance Holding.

The financing of the joint activities has been funded by Czech Export Bank (CEB). ”This is a new form of export support where Czech companies co-operate with foreign partners in order to penetrate into new interesting territories. It is crucial that the Czech exporters play an important role in projects like this,” stated Mr. Tomas Uvira, the CEO of CEB.

Other important projects that are being currently jointly prepared by PSG and Renaissance Holding include a large administrative, commercial, civic and tourism centre Istanbul Seaport, a high-rise office project Renaissance Tower in Istanbul and several energy projects both in Turkey and Iraq.

Turkey belongs among twenty most important trading and business partners of the Czech Republic and its economy is currently the fastest growing in the world.

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