“Due to the crisis, many energy consumers are lowering their operations or disappearing, which means [electricity companies] Transelectrica and Electrica will have lower revenues and could reduce the level of investments. I guess we will not be impacted by the crisis due to our policy to contract work abroad,” he said.
According to Valeriu, last year the company won tenders for electricity network operators in the United Arab Emirates worth $18 million (€13.5 mln), in Cyprus (€16 mln), and in Jordan, where it has a €14 mln deal and is waiting for the results of a €24 mln tender.
Electromontaj forecasts €55.5 million worth of business in 2009, some 25 percent below the estimated turnover for 2008.
