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Romanian companies relive in the Middle East. Hidroconstructia invests over $ 100 million in Jordan

By Jerom Bolt
EximBank Romania issued two bank guarantee letters totaling more than $ 23 million for Hidroconstructia, one of the largest Romanian private equity builders. These facilities will allow the company to run a $ 115.5 million contract in Jordan, according to a communiqué from the bank.
The two letters are intended for the execution of the contract that Hidroconstructia obtained last year, following an international tender organized by the Arabic Potassium Company of the Hashemite Kingdom of Jordan.
"The contract concluded by Hidronconstructia with the Jordanian company is one of the most important projects of a Romanian company in the Middle East in recent years and can open the way for other projects implemented by Romanian companies in the area. Reorienting local companies to the former traditional foreign markets is a justifiable and possible move for two reasons: on the one hand, growth prospects for these markets are much higher than for developed countries; on the other hand, there is a good history of trade relations with these states, which can be an asset for the development of trade relations. It is an approach that EximBank encourages and supports at the same time, by providing Romanian exporters with modern products, aligned with the international practices that facilitate both the internationalization of Romanian companies and their participation in projects outside the country, "said Traian Halalai, Executive Chairman of EximBank.
According to the bank, Hidroconstructia received the bidding documentation for the auction in January 2017 after the first stage of pre-selection started in 2016, and during the evaluation of the offers, the representatives of the Jordanian company visited similar works of the Romanian contractor, executed or in progress . Under the project, the company will carry out special earthworks, developed over a length of more than 10 kilometers, waterproofing works, metallic works, water supply works and other
Hydro-construction was established in 1950; is specialized in the execution of complex hydro-energetic and hydro-technical works (135 large dams, 125 hydroelectric plants), being especially known for the Bicaz, Vidraru, Iron Gates I and II. The company, privatized in 1995 and having as a major shareholder the Employees and Management Association, today, after 67 years of existence, has a wide range of works in the areas of civil and industrial constructions, roads and bridges, urban works and land improvement, ballasts etc.
In parallel with the activity in the country, Hidroconstructia is also active abroad, currently carrying out construction works for construction works in Bulgaria, Belgium, Germany, Iraq and Jordan.
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