Hidroconstructia takes out EUR 60 mln loan from banking consortium

Banca Romaneasca, EFG Private Bank Luxemburg-Bancpost, ABN AMRO Bank Romania and Volksbank Romania are part of the consortium headed by BRD.
Hidroconstructia is currently the biggest construction company in Romania by turnover, with over EUR 227 million last year, 40 percent higher than in 2006. The company has increased its volume of activity mainly due to infrastructure projects and hydro- construction ones, usually financed with European funds.
Hidroconstructia reported a EUR 99.25 million turnover in the first half of the year, a 17 percent increase on the same period of last year. The company's net profit in H1 reached EUR 6.3 million, which is EUR 1.8 million higher than in H1 2006.
Although the firm has estimated a 14 percent decrease in turnover this year on last year, down to EUR 200 million, due to the latest tenders won, the amount may ultimately be similar to the one last year. The company's main projects, totaling EUR 71 million, include revamping water systems in several Romanian cities.

Corina Saceanu