Public authorities concluded public contracts of over EUR 3.7 billion between 2011 and 2015 to modernize and maintain roads, according to a new document published by the Agency for Digital Agenda.

The four largest contracts, with values between EUR 118 million and EUR 246 million, were attributed by the Otopeni Town Hall and the Development Ministry, reports local Hotnews.ro.

The main beneficiary was the local construction company Romstrade controlled by Romanian investor Nelu Iordache. He is one of the so-called “asphalt kings”, namely Romanian businessmen who benefited from large contracts with the state for infrastructure work.

The Otopeni Town Hall attributed a EUR 250 million contract to Romstrade in 2011. In the same year, the Regional Development Ministry awarded Romstrade a EUR 175 million contract to modernize and rehabilitate roads in three Romanian counties.

The third and fourth largest contracts during this period were also attributed to Romstrade, namely one of EUR 118 million and one of EUR 115 million. The prices don’t include VAT.

editor@romania-insider.com