Intrakat Group seeks to double its projects in Romania, having normalized the operation of its Aktor subsidiary in this neighboring country.
According to Intrakat’s vice-president and managing director, Alexandros Exarchou, “a small miracle has taken place in Romania, thanks to the enormous effort of the people of Aktor.”
The first TBM (tunnel boring machine) will start operating at the end of February for the completion of one of the largest transport projects in Romania, which had “stuck” for 3 years.
Moreover, the financial flows of Aktor Romania have been balanced, after the support of the Group and the company can now finance the execution of the projects without further support from the shareholder. It should be noted that the problems in Romania mainly concerned two railway projects, for the restoration and maintenance of the Bucharest-Constanța railway line with a total budget of 187 million euros, as well as the third part of the major project of the Bucharest Ring Road (180 million euros).
“In 2024 we will consolidate our position in the market and significantly strengthen the Group so that it can carry out large projects abroad,” Exarchou noted and added: “From November 15, 2023 when the Group completed the acquisition of Aktor, it has paid (suppliers, partners, etc. for the execution of the projects) 280 million euros more than the price of 110 million euros for its acquisition. This is an amount significantly higher than Intrakat’s total turnover in 2022.”
