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Porr Budapest projects revenue of Ft 16.5 bln in 2006

Austrian construction company Porr AG expects its Hungarian unit Porr Budapest Kft to close 2006 with revenue of Ft 16.5 billion, ten times the amount just two years earlier, largely because of winning big state tenders this year and last, Porr Budapest managing director Zoltán Hegyi said on Friday.

Porr aims to make its Hungarian unit one of the five biggest construction companies in Hungary within five years, Hegyi said. The company aims to boost Porr Budapest's share of the group's revenue to 10%-12% in two to three years, compared to just 0.7% in 2003.
Among Porr Budapest's biggest projects over the last two years was the construction of a 58.6-kilometer stretch of the M6 motorway from Érd, south of Budapest, to Dunaújváros in central Hungary. Porr built the section in a consortium with Bilfinger Berger AG and Swietelsky Kft. The concession project will cost the Hungarian state a total of €508 million by 2026.
Porr Budapest is also building two stretches of the M0 motorway, both together with Hungarian peer Viadom Zrt and Austria's Teerag-Asdag. The consortium is building the 6.7-kilometer stretch for net Ft 8.9 billion and the 11-kilometer section for Ft 19.6 billion.
Hegyi said Porr Budapest is also in a consortium with Austria's Bilfinger Berger and Hungary's Vegyépszer Zrt to build a station along the capital's planned fourth underground line.
Porr has been present in Hungary for 25 years. It operates its own gravel pits and produces its own cement.