The project is financed through the Regional Operational Program, managed by the Ministry of Development. The contract was initially estimated at RON77.5 million; it was awarded in late-August, through an open auction.
The award criteria were: price, with a weight of 42%, contract management (26%), technical execution procedures (10%), quality assurance program (16%), environment protection solutions (6%). The Giurgiu county council, the contracting authority, received 12 bids for the contract.
Romstrade is a major Romanian constructor and a member of a group of companies controlled by Nelu Iordache, along with airline Blue Air.
Gheorghe Racaru, the group’s strategy and development director, said in September that the group expects EUR500 million turnover this year, up from EUR400 million in 2010, an increase supported by Romstrade, among others.