economy

February 26, 2026

NIN: Predicted value of the construction of the Aquarium at Ušće is 90 million euros

The Aquarium at Ušće is being built by the Turkish company 'Ronesans Holding', while its daughter company from the Netherlands 'Ballast Nedam' is expected to be the contractor. Based on available information, the projected value of this project is 90 million euros, according to today's issue of the weekly NIN.

NIN: Predicted value of the construction of the Aquarium at Ušće is 90 million euros

TL;DR

  • The projected cost for the Aquarium at Ušće is 90 million euros.
  • The project is led by Turkish company 'Ronesans Holding' and its Dutch subsidiary 'Ballast Nedam'.
  • The contract was awarded without a public tender, citing an agreement between Serbia and Turkey.
  • Ronesans Holding's founder, Erman Iličak, has an estimated personal fortune of $1.9 billion and close ties to Turkish President Recep Tayyip Erdoğan.
  • The company is primarily known for industrial construction, not specialized aquarium development.
  • Ballast Nedam was acquired by Ronesans Holding after experiencing significant financial difficulties.
  • The construction timeline, aiming for completion by August 2027, is considered highly ambitious.
  • Questions remain about the long-term financial sustainability and operational costs of the aquarium, as many similar facilities worldwide require subsidies.

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