Construction company Romstrade, controlled by businessman NeluIordache, starts 2011 with contracts with the local authorities,after in previous years around 60% of the company's turnover usedto be generated by contracts sealed with the National Motorways andRoads in Romania (CNADNR).
This sees Romstrade in a race to build a car park, an underpassand a commercial area in Charles de Gaulle Square in Bucharestthrough a public-private partnership, with the value of investmentsamounting to around 93 million euros. In addition, Iordache'scompany will build the Mihai Bravu-Splaiul Unirii overpass, acontract worth around 23 million euros, excluding VAT. Whilst in2010 40% of Romstrade's turnover came from projects with localadministrations, in 2011 it is difficult to estimate if the sharewill change or not, considering that the local authorities have notorganised tenders for many projects yet, but on the other handCNADNR did it for several motorway sections in December.
"We have general information about the tenders, and moreinformation on the motorways, because the sections were alreadysubject to tenders in the second part of last year. We don't knowyet how many tenders we will qualify for," Gheorghe Răcaru,strategy and development manager of the group that includes BlueAir and Romstrade, told ZF.
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