about us | newsletter | contact | archive | members area
Hans Klemm, US Ambassador to Romania
"The Romanian economic environment has tremendous potential,"»
  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  |  5048 Views
Daily Info
Bonds of Globalworth will start trading on Bucharest Stock Exchange on July 31

Bucharest Stock Exchange (BVB) informs that the bonds of Globalworth will start trading on the main market on July 31, 2017, and are defined by the following: 5,500 bonds, nom...

OTP Bank Romania to take over Banca Romaneasca from National Bank of Greece

The National Bank of Greece signed an agreement with OTP Bank Romania on the sale of its equity holding of 99.28 per cent in Banca Romaneasca. The transaction involves the sha...

The healthcare system must be a priority, FIC says

Health is now a priority for Romanian authorities and the total spending on healthcare has grown significantly over the last four years (although it is still the lowest propor...

CET Govora reached 30 million RON profit in H1 2017

Heat and electricity producer CET Govora registered a net profit of 30.6 million RON in the first six months of 2017, compared to a net loss of five million RON in the same pe...

E van Wijk agrees new lease at P3 Bucharest park

Pan-European logistics property investor-developer P3 has signed a deal with Logistic E van Wijk, provider of integrated transport and logistics services, to lease 10,180 sqm ...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

Deloitte: The M&A market has doubled in the first half of the year

The M&A market in Romania has reached 889 million Euro in the second quarter of the year according to public sources and disclosed transactions, more than double compared t...

EBRD launches energy efficiency framework for Romanian households

Supporting Romanian households to save energy and money, the European Bank for Reconstruction and Development (EBRD) is launching a 100 million Euro Green Economy Financing...

New law on ports administration would be very damaging for Romanian state budget, Fondul Proprietatea says

Fondul Proprietatea is concerned by the renewed steps to approve the draft law amending the Government Ordinance on ports administration, which was re-examined and approved...