Romanias Delta ACM to build EUR 28mn university in Algeria.

By bne IntelliNews March 18, 2013
Romanian construction company Delta ACM 93 will build a technical university for 4,000 students in Algeria worth EUR 28mn, Adevarul daily reported. The company will act as part of a consortium and will build the university in a town some 400km south of the capital Alger. Delta ACM 93 is controlled by Romanian investor Florea Diaconu. The Romanian company is also building a EUR 50mn motorway in Iraq and works on a EUR 7mn project in Moldova. Over the last weekend, it attended a business forum in Baku, Azerbaijan - where the company is evaluating the business opportunities. Romania has just opened a trade chamber in Azerbaijan. Delta ACM 93 will derive around a third of its revenue this year, namely EUR 40mn, from projects abroad -- amid a sluggish domestic construction market. In order to meet the bidding requirements for the technical university in Algeria, the Romanian company had to enter into a partnership with an Algerian construction company that holds 51% participation in the joint-venture. The contract has a value of EUR 8mn in the first stage but with the full development of the university campus would bring the contract up to EUR 28mn, the daily explains. Delta ACM 93 reported a 15% rise in its turnover to EUR 110mn in 2012 - and sees revenue of EUR 110mn-115mn in 2013. The company's profit margin stood at 3%-4% in 2012, down from over 12% in 2011.
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