“There are billions of dollars waiting to be invested in Libya and it’s our duty to get as much of that money as we can. We are bidding on housing, industrial, infrastructure and private hospital projects,” says Marian Dragoi, one of Building Astrom’s shareholders.
The company is looking for more work in Libya after having completed a $3 million construction contract in the country before the political turmoil of 2011.
The company also won a several-year contract worth EUR34 million to build 12 four-story apartment buildings in Morocco in 2011. The project is actually a public-private partnership but the construction work has not started yet because Building Astrom is still looking for funding for its share of the deal.
“We have not given up on the project but haven’t pressed on, either. We can resume it any time,” Dragoi said.
Building Astrom, held by Marian Dragoi, Nicolae Dragoi and Alexandru Radu, posted 70 million lei (EUR16 million) revenue in 2012, up almost 50% on 2011, according to the ZF’s calculations based on the Finance Ministry data and on the information supplied by the company.
(English version by Loredana Fratila-Cristescu)