In this context, two of the projects Hidroconstructia was unfolding, Ceamirga and Nazanin dams, worth around $10 million, were temporarily halted “with negative consequences over project costs and the company’s profit”.
On the other hand, the $195 million contract for the construction of Bawanur dam is carried out at a slower pace, according to the company.
Beside the contracts in Iraq, Hidroconstructia also carries out projects in Belgium, Germany, the Republic of Moldova and Serbia, according to the latest information. The company entered other markets as the local construction field was seriously hurt by the crisis and one of its main clients, Hidroelectrica, slashed investment budgets.
(English version by Catalina Apostoiu)