Greek Intrakat: For us Romania is a country of strategic importance

Alexandros Exarchou, CEO: We intend to invest heavily in Romania in construction and renewable energy.

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Romania is a strategic country, of absolute priority for us, for it has many opportunities, said the representatives of Greek Intrakat Group which purchased Aktor Romania S.A. in 2023 and which is currently involved in major infrastructure projects in Romania.

Intrakat Vice-Chairman BoD & CEO, Alexandros Exarchou told Romanian mass media that the group is focused on existing projects in Romania and has also set eyes on future projects in other sectors, such as renewable energy.

“There have been several months of increasing presence in Romania ( editor note: since Intrakat’s taking over 100% of Aktor Romania in November last year). We intend to invest heavily in Romania, which is the most emerging country in Europe. The flagship of the group is Aktor, a company that currently has at least EUR 1.5 billion backlog in Romania,” said Alexandros Exarchou.

He announced that Intrakat will start investing in renewable energy and energy storage in Romania as soon as possible, besides the existing railway and motorway infrastructure projects.

“We are significantly investing in PPP projects, which represent a very important of our portfolio. The Public Private Partnership is a very modern methodology, which we believe we’ll fit perfectly in Romania, as well as it has perfectly fitted in Greece for many years now and all over Europe. For us Romania is a country of strategic importance”, the Intrakat CEO also stated.

“We believe that our presence in Romania will strengthen both in term is technical capabilities and also in financial capability. We have strong belief that Romanian economy is booming and we intend to invest heavily in Romania in construction and renewable energy as well, along in PPP projects, as it’s inevitable that Romania will also introduce this type of projects in its portfolio, like the rest of Europe,” Exarchou pointed out.

He said that there is ongoing work to finish Highway A0 South Lot 3 in time, which is end of August – early September. This project worth €180 M is close to 70% physical object completion.

The A0 South Lot 3 segment is 18 km long, of which 15.465 km is related to the South ring road, and 2.5 km is related to the North ring road, separated by the A1 highway to Pitești.

Besides the impressive passage over the A1 in the Ciorogârla area, AKTOR is completing another 4 bridges, 9 overpasses, 46 footbridges, two short-term parking lots, and two service spaces on this segment.

In 2019, AKTOR SA Romania competed with 12 other companies in the tender for A0 South Lot 3 of the Bucharest ring road.

Another infrastructure project developed by Intrakat/Aktor in Romania is the rehabilitation of Brașov – Simeria railway line, a component of the Pan European IVth Corridor, for trains’ circulation with the maximum speed of 160km/h, Brașov –Sighișoara section – sub-sections: 2. Apața – Cața, signed in 2020, with a budget €546.8M, where AKTOR has a 60% share 60%. Almost 30% is completed as of April this year.

Intrakat/Aktor is also interested in the extension metro project M4 line from Northern Station to Progresul in District 4 of Bucharest, a EUR 2.5 billion project that is to be done with EU funds. According to the Greek group representatives, they plan to join this project alongside other European partners.

Intrakat/Aktor officials admitted that although Aktor Romania also had losses following delays in completing the infrastructure projects in our country due mostly to technical disagreements, environmental issues or expropriations, 2024 is the year when their business will become profitable in Romania.

At the same time, the Intrakat CEO said that by the end of 2025 they intend to develop AKTOR Romania as a free-standing entity.

“We need a Romanian AKTOR, more than it is now, a subsidiary of Greek Intrakat. That means to buy more equipment, to have more people”, Exarchou said.

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