Building Astrom To Ink EUR10M Deal In Algeria

10.20.2011 By Andreea Neferu

Arges-based construction company Building Astrom, held by Marian Dragoi, Nicolae Dragoi and Alexandru Radu, is preparing to seal an over EUR10 million contract in Algeria, to build industrial facilities.

"We are in the process of finalizing a contract in Algeria to build industrial facilities. The contract has not been completed yet so I don't know the exact amount, but it is in excess of EUR10 million. We are set to sign it soon," Marian Dragoi, one of the shareholders of Building Astrom, told ZF.

This is not the first time that the builder wins contracts on external markets. The company is for instance present, starting this year, in Morocco, through a $34 million contract for the building of 12 four-storey blocks of apartments.

The company also wants to return to Libya, where it has finalized a $3 million contract for which it has yet to collect the money because of the outbreak of conflicts in the area, but says it stands a big chance of recouping the money.

In Romania, Building Astrom is one of the constructors of the Renault Technologie Roumanie center (RTR) in Titu, where it is working on the testing track, which is set to be completed by the end of the year.

Although the company is already working on projects on external markets, Dragoi says they will be best reflected in next year's turnover. In 2010 the company posted turnover of RON42.4 million (EUR9.7 million), but although it does not have an estimate for this year's turnover, Dragoi says the turnover will definitely exceed last year's level.

"Things are better than last year. The largest projects continue to be external ones. In Romania we don't get contracts worth more than EUR1-2, a maximum of EUR5 million." (EUR1=RON4.3529)

(English version by Daniela Stoican)