Octagon got the contract shortly after Austria’s Alpine Bau, which had won the construction contract of Hermes Business Campus developed by Belgium’s Atenor group, went bankrupt internationally and its contracts in Romania were terminated. Octagon was Alpine Bau’s subcontractor for the first building in the Hermes Business Campus, for which it had signed a EUR3 million deal.
The deadline for the completion of the first building in Hermes Business Campus is the same as initially set, December 31, 2013, said Octagon co-owner Alexandros Ignatiadis.
“There have been no changes of the initial schedule. The project was temporarily on hold, but was resumed very quickly,” Ignatiadis added.
Hermes Business Campus is being built on a 15,000 square meter plot formerly held by Electronica plant and will include several office buildings with a total area of about 78,000 square meters.
Octagon posted revenues of about EUR8 million in 2012. It expects revenues to increase to EUR20 million in 2013, after having won the construction contract for the first Hermes Business Campus building.
(English version by Loredana Fratila-Cristescu)