European funds boost Hidroconstructia contracts to over 350m euros

Hidroconstructia, one of the largest construction companies on the Romanian market, has projects worth over 1,500 million RON (over 350 million euros) underway, most with EU funding, around 900 million RON (over 210 million euros) of which for 2009. "For 2009 we intend to record over 900 million RON (214 million euros) in turnover, with a 3.84% gross profit rate. These figures, as well as all the other indicators have considered on the one hand the volume of works already contracted, and on the other hand the possibility of problems occurring mainly as a result of the economic and financial crisis," said Romeo Bogdanovici, a manager within Hidroconstructia. The company therefore budgeted a 2% turnover decline for this year against 2008, when it posted a 919 million-RON (250 million-euro) turnover.