May 4 (SeeNews) - Romanian real estate developer Impact said on Tuesday it signed two contracts worth 10.48 million euro ($11.062 million) with local RCTI COMPANY for the completion of a residential complex in Bucharest and for the construction of the water supply and sewage systems of an existing development.
In 2020, Impact awarded a contract for the completion of the residential complex to local company Electrogroup, but later terminated amicably its contractual relations with Electrogroup, it said in a filing with the Bucharest Stock Exchange, BVB.
Under the second contract, RCTI COMPANY will build the sewage and water supply systems for Greenfield Baneasa Collective Housing Complex.
RCTI (Rand Clima Termogaz Instalatii) COMPANY is specialed in mechanical and electrical engineering. The company was founded in 2010 and is part of RAND Holding, a privately held company.
Based on finance ministry data, RCTI COMPANY recorded 1,92 million lei ($411,000/389,000 euro) in profit on a turnover of 49.83 million lei in 2020.
Founded in 1991, Impact is a real estate developer based in Romania. According to a financial report it published on the BVB, Impact recorded 78.8 million lei in profit and total revenue of 137.58 million lei in 2021.
Impact's shares traded down at 0.606 lei on the BVB as of 14:29 CET on Wednesday.
(1 euro - 4.94 Romanian lei)