Diekat to build 18m euro turnover

Greek construction group Diekat envisages turnover worth 18 million euros for next year, up 38% as compared to 2002.
Turnover logged by Diekat in Romania includes the operations of Diekat Construct SRL and of the Bucharest-based subsidiary of Diekat SA Athens, according to the Greek officials.
The group’s management is planning an IPO, to have the Romanian construction operations listed on the Bucharest Stock Exchange in two years.
An initial public offering entails the sale of stock to the public, either by capital increase, or by selling the stake held by a shareholder.
Another Greek company, MJ Maillis, is already traded on the stock exchange, while Intrarom (a telecom company owned by Greece’s Intracom) was very close to going public last year.
Diekat has several projects lined up for next year, such as renovation of 40 Germanos stores, infrastructure and superstructure works for the Soseaua Nordului residential complex, held by Eurorom – Technical Olympic.
Moreover, the Greek group will be part of several other projects, estimated at 18 million euros.
Diekat Romania has worked with companies such as Banca Comerciala RomA„sna (Romanian Commercial Bank – BCR), Alpha Bank, Egnatia Bank, Piraeus Bank, RADET, MJ Maillis and Danone.
The company estimates revenues to amount to 13 million euros this year. The average number of employees stands at 150.
Diekat has been operating in Romania for five years and has set out to attain three goals: providing services to private companies, mainly foreign investors, participating in infrastructure projects that are granted multilateral financing (from the EBRD, the European Investment Bank, the World Bank) and investing on the realty market (the Bucharest Corporate Center).
Diekat Athens has invested about 7.8 million dollars in Romania so far.