Rominserv - turnover to rise by 22% in 2007

Rominserv, the general contractor of The Rompetrol Group, forecasts a USD 130 million turnover this year, marking a 22% upping vs. the 2006 figure* (USD 106.3 million).

The company completed a number of 163 modernization, construction, and greenfield projects worth USD 64.5 million last year. 30 additional projects in various execution stages and having an aggregate value of USD 110.3 million, and furthermore 65 projects initiated in 2006 and worth some USD 122 million must add to said figure.

“The worth of projects initiated last year was some 42% above the value of completed projects. The rising volume of works Rominserv performed and undertook in 2006 translates into recognition of the team’s professional approach and experience, and also of the quality of the services on offer,” stated Victor Popovici, company CEO and coordinator of the TRG Excellence Technical Center.

Completed projects comprise start-up of the LDPE (low density polyethylene) equipment, a USD 30 million worth investment carried out by TRG. Operations were aimed at overhauling and modernizing the LDPE equipment (compressors, reactor, extruder) and adjacent facilities (cryogenic storehouse, warehouses), and achieving a liquefied gas loading/unloading terminal to allow supply of ethylene supplied by sea, and furthermore fit in place a new automatic end-products packaging device.

Another significant project Rominserv carried out in 2006 was the modernization of three district heating stations pertaining to the centralized heating system of the municipality of Oneşti, Bacău county. Also, the company concluded an agreement to supply special grade valves to the Bucharest Thermal Energy Distribution Regie Autonome (RADET) aimed at improving the Bucharest district heating network.

Company 2007 goals include diversification and identification of new clients and partners outside The Rompetrol Group. Moreover, Rominserv intends to carry out projects in three important lines of business: cogeneration production of electric power and heat, infrastructure (distribution and supply of drinking water, gas, sewage) in cities and rural areas, and modernization/rehabilitation of district heating plants and heat distribution networks in urban areas.

* - unaudited result