OCTAGON is building bored piles for Electric Power Plant 1250 MW Shatt Al- Basra, Irak

Electric Power Plant 1250 MW Shatt Al- Basra

A country with an economy extensively affected by war, full of demolished buildings and a poor road infrastructure, Iraq represents a major business opportunity for construction companies all over the world. As national economy is recovering, housing demand, caused by high deficit at the end of the 20th century, increases and requires significant investment in development projects. Rebuilding Iraq’s roads and transport is vital for foreign companies to transport equipment and merchandise, as they develop their projects in the country.

Electric Power Plant 1250 MW Shatt Al- Basra

Few are those who, despite of having identified the economic potential of the country, are taking the risk of investing in a country with major security issues. OCTAGON CONTRACTING & ENGINEERING is among the companies that have taken advantage of the opportunities provided by the Iraqi market. The company opened a branch in Baghdad in 2011.

Electric Power Plant 1250 MW Shatt Al- Basra

“Our anchor during crisis was the Iraqi market. We decided to try another market with long term growth perspectives and that provides liquidities for infrastructure projects.  The security issues were an advantage for us, as they keep the competition at distance. Right now we are building awareness on the market and we are waiting for a stabilization of the political situation. The fact that we already have three projects ongoing is a positive sign and confirms the fact that we had good intuition when we made this decision.” said Alexandros

Electric Power Plant 1250 MW Shatt Al- Basra

Ignatiadis, co-founder and shareholder of OCTAGON.

OCTAGON has three ongoing projects in Baghdad and Basra. One of these projects is the Electric Power Plant 1250 MW Shatt Al- Basra, where the company is building bored piles D 1.000, for the contractor Metka. The company has a team of Romanian and Iraqi workers and engineers working on the project at high pace.

Electric Power Plant 1250 MW Shatt Al- Basra

OCTAGON is using the experience accumulated while building the biggest private electricity cogeneration greenfield project, built in Romania in the past 20 years: Combined Cycle Electric Power Plant 867 MW OMV- Petrom (Brazi). The construction works were performed between 2009- 2011 and the power plant began the commercial operations on August 1^st 2012. OCTAGON performed geotechnical, structure, architecture, installation (electrical, sanitary) works and exterior works within the project.  

Electric Power Plant 1250 MW Shatt Al- Basra

OCTAGON is also working in Iraq on the construction of a residential project:  Iraq Gate Residential and

Electric Power Plant 1250 MW Shatt Al- Basra

of Al Zawraa Stadium, both located in Baghdad.

A number of large- scale infrastructure and real estate projects are underway and a combination of several factors makes Iraq a favorable business and investment destination. 

Electric Power Plant 1250 MW Shatt Al- Basra

Laws in place for foreign investment allow 100% foreign ownership of businesses in all sectors except oil and mineral extraction. Also non- Iraqi citizens can now own land for housing projects. Investment partnerships with state-owned enterprises are also possible for foreign companies, at present.

 

 

For more information click HERE. 

OCTAGON CONTRACTING & ENGINEERING

Phone: (+4)021.232.39.20

See on map

ZF: Best business centers in Bucharest. Octagon, contractor within 6 of them

 

Sky Tower

Ziarul Financiar has interviewed eight real estate consultancy firms to draw up a top of the business centers that suit best the criteria of the companies looking for new headquarters. Extremely dynamic on the office market, in the past years, OCTAGON has been contractor within 6 of these projects.

Victoria Center building on Calea Victoriei, Sky Tower near Promenada Mall, where OCTAGON has performed infrastructure works in top- down system and AFI Business Park near AFI Palace Cotroceni Mall are the office projects in Bucharest that fit most of the criteria.

Victoria Center is the most attractive office building in Bucharest, with a leasable area under 10,000 sqm, Sky Tower is the brokers’ favorite building over 10,000 sqm, while AFI Park is the highest rated business park, according to the analysis which took ten criteria into account.

Olympia Tower

The projects divided into three categories – under 10,000 sqm, over 10,000 sqm and business parks – have been graded from 5 to 1 upon 10 criteria: technical specifications, access, space efficiency, operational efficiency, visibility and design, quality of administration services, building and surrounding facilities, price/quality ration, high parking rate and good reputation of existing tenants.

Green Gate

Located in a central area, on Decebal Blvd., Olympia Tower office building is one of the most modern in Bucharest, with an area under 10,000 sqm. OCTAGON has performed the infrastructure works (diaphragm walls, bored piles, general excavation, crown beam) and superstructure works for this building.

Among buildings with areas over 10,000 sqm, Green Gate, located on Tudor Vladimirescu Blvd. in Bucharest is one of the most recently delivered. OCTAGON has been specialized contractor for the office building and has performed geotechnical works: diaphragm walls, bored piles, dewatering systems and crown beam. The building has 10 floors and a 39,000 sqm total area.

Hermes Business Campus

Green Court Bucharest- Building A

OCTAGON has also been involved in the construction of two of the largest office parks in Bucharest: Hermes Business Campus (Dimitrie Pompeiu Blvd.) and Green Court Bucharest (Gara Herastrau St.). The company was general contractor for the first office building within the complex. After delivering building A of Green Court Bucharest complex, developed by real estate giant Skanska, OCTAGON is continuing the superstructure works to building B, which will be delivered this year.

Green Court Bucharest- Building B

On the list of projects built by OCTAGON, listed in ZF top there is also Floreasca Park, located in northern Bucharest on Pipera Road. OCTAGON was specialized contractor and performed geotechnical works within the building.  

For more information click HERE. 

 

OCTAGON CONTRACTING & ENGINEERING

Phone: (+4)021.232.39.20

See on map

The Construction Agenda: OCTAGON- 2 million euro works for large scale infrastructure projects

Octagon Contracting & Engineering, one of the main constructors of special foundations in Romania is  working on three large scale infrastructure projects in Romania. The total value of the projects is around  2 million euro. Octagon will cash 600,000 euro for geotechnical works performed at the underground passage from Presei Libere Square in Bucharest.  Another important project is the rehabilitation of Brasov – Simeria railway,  Coslariu – Sighisoara section, Micasasa – Coslariu sector, worth 260,000 euro. "In this project we were subcontracted by the Greek contractor Aktor. We also executed bored piles for sections A, D and E of the second sector of  Lugoj – Deva highway, a  5 million lei (1.14 milion euro) project,  as the subcontractor of Salini Impregilo ", said Alexandros Ignatiadis, co-founder and shareholder of Octagon C&E.

 Poor management of public investments blocks the infrastructure development

According to the manager the main issue the local infrastructure and public works market is facing is the poor management, which triggers poor results in the area. "Delivery terms are extended three times on average and these delays generate financial loses. We have major delays in each stage of a project’s  development, starting with the feasibility stage and continuing with the launching of the specifications book, which is contested several times. A lot of time is wasted trying to solve the contestations, after which a new bid the results of which are contested again is announced.” said the shareholder of Octagon.

The new rules for the awarding of public contracts, voted by the European Parliament on January 15^th  2014, have not solved the issues of the Romanian legislation either. "Maintaining the lowest price as the main awarding criteria can significantly impact the quality of delivered projects. We need a more detailed approach and deep changes in this respect.”  explained Alexandros Ignatiadis.