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Argeş construction company builds homes in Morocco in public-private partnership

Autor: Andreea Neferu

14.03.2011, 23:10 12

Argeş-based Building Astrom construction company,owned by Marian Drăgoi, Nicolae Drăgoi and Alexandru Radu, won a34m-euro contract in Morocco for the building of 12 four-storeyapartment blocks.

"As we sought new projects,we also got to Morocco, as there are more funds, more investmentsthat need to be carried out than in Europe. The project of Moroccois a public-private partnership between the Rabat city hall andBuilding Astrom and six blocks will be built in the first phasewith around 17m euros," Marian Drăgoi, general manager and ashareholder in Building Astrom, told ZF.

The Romanian company, withturnover worth 70m lei (16.6m euros) last year, will contribute 30%to the necessary investments, with funding being secured by a Dubaibank at a 5% interest rate.

Building Astrom is one ofthe builders of Renault Technologie Roumanie (RTR) centre of Titu,where it currently works on the test track, due to be completed atyearend, Drăgoi says.

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