Loading ...Hidroconstructia, the largest water engineering company of Romania, is expecting a 3-percent rise in its 2008 business turnover, to 225 million euros, and is planning to keep the turnover in excess of 200 million euros in the years ahead.
Hidroconstructia Director Romeo Bogdanovici says the company is currently involved in very many projects and it is contemplating concluding more contracts in 2008. In December 2007, the company was extended a 60-million-euro credit line by a banking consortium headed by Banca Romana pentru Dezvoltare (BRD) to fund and provide guarantees for the projects to be carried out by Hidroconstructia in the next years.
Preliminary data indicate a fall by 7.8 percent, to 218.5 million euros, in Hidroconstructia’s turnover, mainly as a result of project underfunding. The net profit also declined 13.8 percent from 2006, to 15 million euros.
The company has budget investment worth 23 million euros for 2008, to be carried out in technical equipment, land acquisitions and engineering projects.
The main 2007 projects of the company were the recovery and expansion of drinkable water networks, sewerage works, flood defence works and waste management.
Hidroconstructia specialises in building dams and hydropower plants, as well as other water engineering works. The company has 6,800 shareholders and a share capital of RON 142.6 million (38.5 million euros).
The main local competitors of Hidroconstructia are Energoconstructia and Energomontaj, on a market valued at 10 billion euros in 2007, which is expected to advance 30 percent in 2008.
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