The Iridex group, which operates in the construction, waste collection and irrigation equipment sectors, has budgeted turnover worth 27 million euros (98 million RON) this year, around 20% higher from last year, according to the group's representatives.
"Ramps for the storage of waste we hold will be developed and operated at full capacity this year. We will also carry out several projects concerning the water supply and the construction of wind power stations," Florin Pascu, general manager of the Iridex Group Import Export, part of the Iridex group, told ZIARUL FINANCIAR.
Iridex group last year derived income worth 15 million RON (4.1 million euros), which, against turnover translates into a profit margin of 18%.
Iridex has so far invested 26 million RON (7 million euros) to open some ecological warehouses. The group owns ecological waste warehouses in Chiajna (Bucharest), which have an area of 16.5 hectares, in Boldesti-Scaieni on a 7.5 hectare plot and a facility in Costinesti (Constanta) that covers around 10 hectares.
Last year, Iridex started operating an incinerator for hazardous and hospital waste in the Chiajna commune, in which it invested around 2 million euros. "The module we started operating has a daily incineration capacity of 16 tonnes. A second module, set to double the current capacity, will become operational in 2007, with the total investment to reach 25 million RON (7 million euros)," specifies Pascu.
The markets of hazardous waste incineration and sanitation services have become very appealing for foreign investors, as Romania will have to embrace ever-stricter regulations regarding environmental protection, in line with the standards set by the European Union.
As a result, the domestic branch of the Israeli company Ludan, Ludan Engineering, at the end of last year announced investments worth 40 million euros in a dangerous waste incinerator in Ploiesti. On the market of waste collection, processing and neutralisation, Iridex competes with Germany's Lobbe group, which in 2003 acquired the majority stake in Vivani Salubritate, Tracon Braila and REBU.
At present, construction works account for the largest part in Iridex's turnover. Last year, they accounted for more than 53% in registered turnover.
The most important construction projects Iridex Constructii undertook last year include the building of wind power station in Prahova county, road construction work in Calarasi county and work related to the construction of an airport runway in Bobocul (Buzau), in collaboration with the French company Colas.
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