Condmag Brasov lands $26.5m contract

Condmag SA Brasov, along with Lebanon’s Unico-Petroleum, was selected as the winner of an international tender held by Syrian Mahrukat oil company for building and installing a 178 km long pipeline. The contract to be concluded with the beneficiary is appraised at about $26.5 million, according to the company’s representatives. Condmag is a private company that designs and builds pipelines, natural gas and oil processing installations, as well as the required additional technological facilities. Its significant shareholders are two individuals, chief executive Craciun Mihai Corneliu (38.03%) and Pompei Hadarean (38.15%). ZF