Petroconst turnover down 33%

Oil and natural gas construction company Petroconst Constanta estimates to have made more than 1,000bn ROL (some 30 million euros) turnover in 2002, with gross profit amounting to 80bn ROL ($2.3 million). Turnover, however, went down about one third in real terms compared with 2001, when it had reached some 44 million euros, as 2002 was slower for business (less orders received), Dumitru Cilipia, Petroconst Constanta general manager told Ziarul Financiar. According to Cilipia, 2003 may be even more difficult than the previous year, because of the lack of orders on the specialised market. The company invested 5bn ROL (some 150,000 euros) in plant and equipment last year. Its main clients are SNP Petrom, Romgaz, Transgaz and private natural gases distributor Congaz Constanta, whose orders weigh heavily on Petroconst’s turnover. The company’s competitors dealing in the construction or rehabilitation of oil and gas ducts are TMUCB, Amarad Arad, Inspet Ploiesti or Condmag Brasov. Petroconst’s most important project last year was participating in the expansion of the natural gas transport capacity in Isaccea-Constanta, a project completed in 2002. Petroconst has been in business on the Romanian market for more than 40 years and is currently employing some 900 people. ZF