about us | newsletter | contact | archive | members area
Christian Traunfellner, Immofinanz
There is an increasing need for high-quality office properties»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

Borza: Hidroelectrica to exit insolvency in June 2015 the latest

Remus Borza, the manager of Euro Insol, the judicial administrator of energy company Hidroelectrica, estimated that May or June next year might be the date when the power company might exist insolvency. He also said that he expects that the Department of Energy approves the almost 1 million Euro worth commission, otherwise, he ends the judicial mandate.

2014-05-29 15:24:32

According to his statement, Borza decreased the value of his commission from 2 million Euro to 934.000 Euro. Euro Insol cashed in a commission worth 2.2. million Euro for 2012-2013. Hidroelectrica has managed to exit the first insolvency in June 2013 and, at one year since it declares incapacity of payments, the company has laid off 700 employees, annulled direct contracts through which it had lost over EUR 1 billion and recorded a turnover of RON 399 million in the first five months of this year, compared to losses of RON 190 million in the same period of last year.

At the end of 2013, the company representatives said that by 2014, Hidroelectrica planned to sell 88 small hydropower plants, representing 1 percent of the overall installed power, due to significant operational and maintenance costs.

Hidroelectrica shareholders are the Romanian state with 80.05 percent of shares and Fondul Proprietatea, with 19.95 percent.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5155 Views
Daily Info
BearingPoint reaches 560 employees in Romania

Dutch management and technology consultancy firm BearingPoint has reached 560 employees in Romania and plans to continue hiring, local Profit.ro reported.

Taxify Comfort launches in Bucharest to compete with Uber Select

Taxify is launching a new service in Bucharest for all its users, Taxify Comfort, which will include cars of a superior class compared to its regular service, such as Audi A6,...

Uber Eats launches in Bucharest

Uber announced the expansion of its global food delivery app to the Romania's capital. Residents of Bucharest will be able to open the Uber Eats app or visit ubereats.com to o...

AFI Europe Romania posts 13.6 million Euro net operating income, up 12 per cent in Q1 2018

AFI Europe Romania published its financial results; The Net Operating Income from its income producing assets in Romania reached 13.6 million Euro during Q1 2018, representi...

Deloitte Romania and Reff & Associates advised MAS in acquiring Militari Shopping Center

Deloitte Romania and Reff & Associates, member of Deloitte Legal in Romania, have advised MAS Real Estate in the acquisition of Militari Shopping Center from Atrium European R...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
ING Bank Romania to accelerate business development through digitization

Customers are increasingly interacting with the bank through its digital platforms and are making more card payments, according to a report issued by ING Bank Romania.

2 Comments

TransferGo: We will come to a point where money transfers will be dominated by app usage

Cash will become obsolete and this will be the result of digital finance advancement, Marius Nedelcu, Country Manager at TransferGo told The Diplomat-Bucharest.

Globalworth: The number of green accredited buildings continues to grow every year

Romania today is one of the few economies in Europe that had a consistent expansion over the past six years, outpacing EU average growth, Dimitris Raptis, deputy CEO and Ch...

1 Comment

UniCredit announces updates in the Mobile Banking application

UniCredit Bank launches new facilities in the up-to-date version of its Mobile Banking application to provide customers with a simpler and faster user experience.

2 Comments

ESOP: We expect that the green building trend further grows

The Romanian market is one of the most dynamic in the region due to the accelerated development in IT&C, BPO, shared services industries, and to the expansion of research &...

Immofinanz: Constant, visible shift towards energy efficiency on the local office sector

Romania's strong economic growth in 2017 placed the country in a leading position in the CEE region and the trend is expected be sustainable over the next years, Christian ...

1 Comment

Crosspoint: Currently, there is a relatively small number of green office buildings throughout Romania

2017 has been a good year for the office market all throughout the CEE region: low vacancy rates (Bucharest - nine per cent, Warsaw - 14 per cent, Budapest - 9.2 per cent, ...