Romanian constructors bearish about Iraq

Romanian construction companies have yet to recover at least 50% of Iraq’s total debts to Romania, Liviu Daschevici, director general of the Romanian Construction Contractors Association (ARACO), a patronage representing more than 1,000 construction companies, told Ziarul Financiar. Iraq’s total debts to Romania are worth more than $1.7bn at the moment. “We don’t have much of a hope we’ll recover these debts by a possible participation in the reconstruction of Iraq. We are cautious. The authorities there (i.e. Iraq) will probably be reluctant to Romania, as those in Yugoslavia were after the war,” Daschevici said. He added the Romanian companies had not worked in Iraq since 1990-1991, with those that had contracts in the area including Arcom, Arcif, Industrialexport and Mecanoexport. ZF