US-based Bechtel, which is building the Transilvania motorway(415 kilometres) and Turkey-based Enka, the main subcontractor ofthe Americans, have posted total turnover worth 766 million eurosand cumulated net profit worth 60 million euros in the last threeyears. The 2009 financials were supplied by the National TradeRegistry Office (ONRC), and reveal that the two companies, whichequally split the funds received from the Government, collected atotal of 284.6 million euros from Compania Nationala de Autostrazisi Drumuri Nationale (National Motorway and National Road Company)for the work performed.
However, Bechtel and Enka have only completed 42 kilometres ofhighway (Gilau-Turda), while the other section under construction,Suplacu de Barcau - Bors (64 kilometres) has only been 31%completed.
The amount does not include the debt the state has to Bechtel forwork performed in 2009, which amounts to over 200 million euros,and is to be paid in 2010. Bechtel and Enka will therefore collectabout one billion euros for the work done so far. The amount iseven higher if adding the sums allocated for the expropriation ofland, whose value was still unknown at the time the story was readyfor print.
"The amount is this high because of the contract. Under thecontract, Bechtel would get the advance money for the entire yearworth of work at its London-based branch, keep it until October orNovember, when work had to be justified and then send the foreigncurrency in Romania, paying subcontractors and suppliers in RON. Weremoved this issue last year, but it is but one of the explanationsfor the profit made by Bechtel," says Adrian Ionescu, head of themotorway division of the CNADNR.
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