about us | newsletter | contact | archive | members area
Elisabeta Moraru, Google Romania
"The Palace of Parliament building can be visited virtually with Street View images"»
  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  |  5124 Views
Daily Info
evoMAG estimates 20 per cent sales growth at new school year start

Online retailer evoMAG announced the launch of the campaign 'Back to School' between August 22- September 3, and estimates a 20 per cent sales growth compared to the previous ...

Vienna Insurance Group posts 221 million Euro profit in the first half of 2017

Vienna Insurance Group reached a profit before taxes of around 221 million Euro (9.6 percent increase) in the first half of 2017, with all figures showing improvement, a press...

Commercial property investments in Romania reached 530 million Euro in the first six months

In H1 2017, the total volume invested in commercial property in Romania reached 530 million Euro, compared to 370 million Euro during H1 2016, a 43 per cent increase, accordin...

AFI Europe Romania posts increasing net operating income in H1 2017

AFI Europe Romania published its H1 2017 financial results, generating a Net Operating Income (NOI) from its income producing assets in Romania of 25 million Euro in H1, repre...

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...

 
 
   
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...

Chinese delegation seeks investment opportunities in Romania

Prime Minister Mihai Tudose discussed at the Victoria Governmental Palace on Thursday about the opportunities to invest in Romania with an official delegation of the People...

BVB second place in the region by number of IPOs in H1 2017

Bucharest Stock Exchange (BVB) is the second market in Central and Eastern Europe where initial public offers (IPOs) were successfully concluded in the second quarter of th...

EU bank supports expansion of Regina Maria private healthcare network in Romania

The European Investment Bank (EIB) is lending 15 million Euro to support the expansion of a private healthcare network in Romania, a press release shows. This agreement is ...