Strabag reports threefold higher revenues in Romania compared to group

The activities in Romania of the Austrian concern Strabag, one of the world’s biggest constructions companies and the leader of the Austrian market, prompted threefold higher revenues compared to the group, daily Business Standard reports on Sept 5.
The Romania-based company reported last year consolidated revenues worth 190 million euros from operations in the construction and hotel sector.
Diana Klein, in charge with the department of Relations with Investors with Starbag said that the company estimates for this year a 50-percent rise in revenues. At group level, Strabag estimates a 15-percent growth of revenues at global level.

In Romania, the Austrian group is majority shareholder or holds stakes in the construction companies Grandemar and ARL of Cluj (centre Romania), Carb Brasov (centre Romania), Drumco Timisoara (western Romania) and Strabag SRL. Strabag owns a 55-percent stake in Societatea Companiilor Hoteliere Grand, which administrates Marriott Hotel in Bucharest.
Representatives of Strabag hold advanced negotiations for the acquisition of a plot of land of 20 ha in Anina in Caras-Severin county (south-western Romania), on which it plans to build the first cement plant after 1989, an investment in which the budget will amount to 250 million euros.
The nine plants which are running at present in Romania are built during the communist regime and purchased after 1997 by subsidiaries of multinational groups Lafarge, Holcim and HeidelbergCement.
The production facility, with an estimated facility of some 1 million tonnes a year, according to Ziarul Financiar, will be the first Greenfield project in the cement industry afire 1990 on a market dominated by three players: Lafarge (France), HeidelbergCement (Germany), and Holcim (Switzerland). At present, the annual cement production amounts to some 10.5-11 million tonnes, however, the offer is exceeded by demand, therefore the players of the market announced massive investments in order to increase production.
Strabag’s decision to build a cement plant was taken considering that Austrians participate in auctions to build motorways, a programme that will draw investments of several billion euros in the upcoming years, through EU funds and from the state budget alike.
The cement consumption last year reached 450 kg per capita, a similar level to the one in Hungary or the Czech Republic, countries in which the consumption has maintained over the past 10 years. The cement market grew by some 2 million tonnes on an annual basis.

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