EximBank offers guarantees for Romanian company’s contract in Jordan
» EximBank offers guarantees for Romanian…
Romanian state-owned lender EximBank has issued two guarantee letters worth USD 23 million for Hidroconstructia, one of the biggest Romanian construction companies, which will allow it to carry out a USD 115.5 million contract in Jordan.
Hidroconstructia won the contract last year after an international tender organized by Jordan’s Arab Potash Company (APC).
“The contract Hidroconstructia has signed with the Jordanian company is one of the most important carried out by a Romanian company in the Middle East in recent years and can pave the way for more projects implemented by Romanian firms in the region,” said EximBank’s executive president Traian Halalai.
Hidroconstructia general manager Mihaita Fundeanu says the economic conditions on the domestic market, where there haven’t been any major construction projects in recent years, has determined the company to change its business strategy and focus on international contracts. The company also has ongoing contracts in Bulgaria, Belgium, Germany and Iraq.
Hidroconstructia was founded in 1950 and has built the biggest hydropower projects in Romania, including the Iron Gates, Bicaz and Vidraru project. It was privatized in 1995 and is now owned by the Employees Association.
Republika Srpska to adopt new renewables incentive schemes by end-2019
Republika Srpska plans to introduce auctions for the construction of hydropower and solar power plants, as well as to continue using its power generation resources, including small and large hydropower plants and lignite-fired power plants. In an interview with Balkan Green Energy News, Petar Đokić, Minister of Energy and Mining of Republika Srpska, says that…
Croatia’s HEP Group posts EUR 184 million net profit for 2018
Croatia’s state-owned energy company Hrvatska Elektroprivreda (HEP Group) reported a net profit of HRK 1.36 billion (around EUR 184 million) in 2018, an increase of 5% compared to 2017. The profit came from the group’s electricity business, with losses seem in other segments of operations, according to HEP Group’s annual report. HEP Group posted an…
Electrica interested in CEZ assets in Romania – CEO
Romania’s state-owned power distribution and supply company Electrica is interested in buying the assets owned by Czech energy company CEZ in Romania, once they are put up for sale, Electrica CEO Georgeta Corina Popescu has said in an interview with Agerpres, Romania Insider reported. In addition to eyeing CEZ’s assets in Romania, Electrica is also…