The Serbian police, in cooperation with the Special Prosecutor's Office, arrested on Thursday morning owner of Serbian road builder Niebens Group Milo Djuraskovic and seven more of his associates who are suspected of abuse of office and causing financial damage to a number of companies in Belgrade, Vranje and Krusevac from 2007 to 2010, Tanjug was told in the Serbian Interior Ministry (MUP).

Niebens Group is Serbia's largest company in the area of road engineering and one of the regional leaders. Apart from big businesses in Serbia, the company's personnel and equipment are also employed in foreign construction sites, the MUP released.

The MUP noted that for instance Krusevac-based lubricants factory FAM was damaged by EUR 32 million. During the 48-hour custody, the suspects will be brought before investigative judge.

Moreover, Slobodan Jovanovic, the former director of Road Company Belgrade, which is member of Niebens Group, was arrested several days ago along with a former member of the Managing Board of Elektroprivreda Srbije, and 15 more persons who were involved in malversations with construction of roads near Pozarevac, eastern Serbia.