about us | newsletter | contact | archive | members area
Marius Vacaroiu, Policolor
Tax changes have made us elaborate more budget impact assessments this year»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Romelectro to double its profit and revenues this year

Romelectro, one of the most important EPC contractors in Romania for complex projects in the energy field, wants to double its profit and revenues for 2017, based on current portfolio, said Cristian Secosan, general manager of the company.

2017-04-07 15:36:09

Last year, Romelectro reached a profit of one million Euro and revenues of more than 50 million Euro, according to unaudited financial data.

"2016 was a good year for Romelectro, we accelerated expansion on foreign markets, so revenues in 2017 will be significantly higher than last year," said Secosan. "On foreign markets, we are present in Kosovo and Egypt, where we established branches, and also in Saudi Arabia, where we set up a subsidiary to which we are major shareholder. We try to stabilize our activity in certain regions of the world where we have projects under implementation and then expand the business."

The newest complex project assumed by Romelectro is a green-field project in the field of power generation: Romgaz, the Romanian operator for gas exploration, decided to build a high-efficiency power plant in the combined cycle technology, producing 430 MW in Iernut.
Romelectro in consortium with Duro Felguera Spain won a contract having a total value of 245 million Euro. The commissioning is planned for the end of 2019. It is the most important investment promoted by a state-owned company in power generation since 1989.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  7749 Views
Daily Info
Energy price for households to increase as of 1 January

The price of energy for consumers who are powered in universal service will increase as of 1 January, while the peak energy consumption, between 18:00 hrs and 22:00 hrs will b...

E-Distributie Muntenia invested 14.5 million RON for the modernisation of the Cotroceni primary station

E-Distributie Muntenia invested about 14.5 million RON (3.15 million Euro) for the first stages of the modernization of the Cotroceni primary station in Bucharest, a 3-year pr...

Intesa Sanpaolo finalizes the migration to take over the operations of Veneto Banca in Romania

Intesa Sanpaolo has finalized the migration for the transfer of certain assets and certain liabilities from the former Romanian branch of Veneto Banca, including its 19-agenci...

Citi Romania appoints Ivan Vrhel as general manager

Citi announced the appointment of Ivan Vrhel as general manager of Citi Romania, keeping at the same time the current responsibilities as director of Citi Commercial Bank divi...

Euler Hermes estimates the Romanian retail market is worth 40 billion Euro

Euler Hermes, part of Allianz Group, estimates the Romanian retail market is worth 40 billion Euro, a study shows.

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

More on News
Iohannis: Justice independence, public positions' integrity are constitutional values not to be negotiated

Promoting the rule of law and Justice independence, fighting against corruption, ensuring integrity in public positions and dignities are constitutional values that cannot ...

Garanti Leasing signs a loan agreement for 15 million Euro with EFSE

Garanti Leasing, part of Garanti Romania, has signed a loan agreement of 15 million Euro with the European Fund for Southeast Europe (EFSE). The facility is meant to increa...

Energy price for households to increase as of 1 January

The price of energy for consumers who are powered in universal service will increase as of 1 January, while the peak energy consumption, between 18:00 hrs and 22:00 hrs wil...

Mega Image to continue expansion in Romania in 2018

Local retailer Mega Image will continue its expansion next year, according to Vassilis Stavrou, the general manager of the Mega Image operations in Romania.

EBRD acquires 4.4 per cent stake in Globalworth

The European Bank for Reconstruction and Development (EBRD) has acquired a 4.4 per cent stake in real estate developer Globalworth, whose portfolio in Romania reached 1.08 ...

Construction works for the first pediatric oncology and radiotherapy hospital in Romania to begin with 8 million euro

Daruieste Viata Association is an NGO to start the construction works for the first pediatric cncology and radiotherapy hospital in Romania, in the court yard of the “Mar...

Posta Romana auto park to increase by 180 units, following investment of 3 million Euro

Posta Romana auto park will increase by 180 units, out of which 80 cars of 3.5 tones will be functional this week, following that until the end of the month to be distribut...