Interview with Cecile Morenas, CFO Lafarge Romania: Local competitiveness is key
Despite the announced economic growth registered in 2013 and Q1 2014, the Romanian construction sector is still affected by the low private investments and reduced EU funds absorption for the big infrastructure works, Cecile Morenas, the CFO of Lafarge Romania told the Diplomat-Bucharest in a recent interview. 2014-07-15 12:42:42
"Also, the slow and difficult process that follows the approval of EU funds allocations is discouraging local initiatives and affects the cash availability and solvability of the companies in the construction business. Such cash limitations impact the entire industry," the CFO stated.
According to the manager, the energy sector policy is important for the cement and overall construction industry, since energy "spending accounts for 30 per cent of the costs (Lafarge). In this regard, local competitiveness is key. Therefore, we recently announced an investment project for municipal solid waste co-processing in our cement plant in Medgidia, co-financed by the European Regional Development Fund. This will allow us to use alternative fuels, will have as a long term effect the natural resources conservation as it will increase the substitution rate of fossil combustible and will contribute to the 2020 national objectives on waste management. The overall value of the project amounts to 40,876,474.61 lei (estimated 9.5 million Euro), of which the value of the non-reimbursable aid is 15,712,423.78 lei (estimated 3.6 million Euro). The duration of the project implementation is 19 months, during which the project will create new jobs, and thus contribute to the increase of economic competitiveness of the South-Eastern Development Region," Morenas said.
Lafarge Romania initiated this project as part of the "National Pole of Competitiveness in promoting advanced manufacturing systems for the implementation of green economics principles-MEDGreen", in partnership with other local companies, with the involvement of Medgidia City Hall and Ovidius University in Constanta. Co-processing is a waste recovery method, acknowledged at European level as one of the best practices focusing on the efficient use of resources, as both the recycling and the use of waste energy are processes carried out simultaneously in cement manufacturing.
The full interview with Cecile Morenas, CFO Lafarge Romania since January this year will be published in the upcoming edition of The Diplomat-Bucharest, focusing on French and Us investments in Romania, as part of the Country Focus series.
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