Hidroconstructia, the biggest construction company on thedomestic market by turnover in 2008, posted 21% growth in RONbusiness to 1.12 billion RON (264.7 million euros) last year,because of the contracts funded by the European Union signed in theyears before that.
The company was one of the few major construction firms to haveboosted their business in 2009, given that the market fell by 17%to 12 billion euros.
Hidroconstructia had 132 contracts whose value stood at 1,079billion RON (255 million euros), 82 of which will continue in 2010and will be worth 650 million RON (some 155 million euros). Thesedata reveal that Hidroconstructia achieved growth because ofcontracts signed in the previous years.
"Infrastructure works accounted for approximately 60% of the2009 turnover, compared with 40% generated by the rest of theprojects, which are mainly hydropower and hydrotechnical projects,"says Romeo Bogdanovici, human resources manager ofHidroconstructia.
Yet the company budgeted a decline in turnover to 896 millionRON for 2010, because of the low number of tenders organised bylocal authorities and private sector in 2009.
"The year 2009 was a slow year in terms of procurementprocedures started by public central and local authorities andprivate investors. Moreover, a significant number of theinvestments in 2009 stopped or were frozen as a result of the haltin financing and/or the failure of the Romanian authorities to comeup with their share of the co-financing, which had disastrousconsequences on some construction companies," Bogdanovici says.
Hidroconstructia cut about 10% jobs, so that it is now employing6,800 people and is considering going forward with the process inJanuary - March 2010 period, depending on how the projects isworking on are financed.
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