“The Romanian construction market will continue to grow for another 5-10 years, so our business will reach an annual €50 million in the coming three years, and we will be involved principally in industrial and residential projects. We have already received many offers for major projects, but we refused because our team of managers was not yet trained, but this year we will be able to carry out this type of investment as well,” according to a statement for Business Standard by the local branch’s Manager, Claudiu Dragan.

He added that the deficit of construction workers is a serious problem for the future development of the company, and one of the strategies planned for this year is the creation of a nucleus of 50 specialized workers, to participate in important projects, with the rest of the personnel to come through sub-contractors.

The company initiated its first project in Romania last fall, in Brasov, in the form of a €4 mln contract for the construction of an auto component factory for German producer Ina Schaeffer. Work began in October and is due to be completed this fall. Hochtief Construction AG also has a real estate development division, which will be involved in office building, retail and hotel segment projects.