Get real time updates directly on you device, subscribe now.
Romgaz, the natural gas producing company, will put into use on Wednesday the new compression station and natural gas drying, related to the storage facility in Sarmasel, Mures County (north-central part of Romania), energynomics.ro informs.
The project is an investment of RON 237.4 million (EUR 53.6 million) and the works are made by Condmag Brasov and Inspet Ploiesti. Works on this station started in July 2013 and Condmag performed 58.2 percent of the project.
However, Condmag Brasov is insolvent since the summer of 2015, when the company ended with a loss of RON 25 million (almost equal to the annual turnover) and over 260 employees. The staff was reduced by two thirds from 2010 (974 employees) and the last four years were all in the red, with acumulated loss of over RON 83 million (EUR 18 million).
On the other hand, Inspet Ploiesti lost about 40 percent of employees, but remained on profit each year from 2010 to 2015, and reported a total net profit of over RON 78 million (EUR 17 million).
DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRLUniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002