Croatia's IGH selected for 3.43 mn euro road construction deal in Romania

Croatia's IGH selected for 3.43 mn euro road construction deal in Romania

Croatia's IGH selected for 3.43 mn euro road construction deal in Romania Izvor: Pixabay (ilustracija)

Croatia's IGH civil engineering company has been selected, along with the Romanian Constructii company, to design and complete the construction of a 26-kilometre leg of a Romanian motorway, and the job is valued at 3.43 million euro, IGH reported on Monday.

Romania's National Company for the Administration of Road Infrastructure has commissioned the construction of the motorway which will largely be financed with EU funds.

The total value of the motorway is 76.4 million, euro while IGH's contract is worth 3.43 million euro, IGH said.

A contract is expected to be signed after the 10-day appeal period ends and it is expected that construction could begin during the summer and should be completed within 2 years, IGH said in a press release.

With this contract, IGH will have met its strategic objective to generate by 2023 more than 50% of its revenue from several developed foreign branches, IGH said.

"IGH is more than welcome on the Romanian market. After two years of preparation, we have finally won a big job. I am convinced that this is just the first of many big jobs IGH will get for the development of new motorways in Romania," IGH's advisor for the Romanian market Tibor Gibanica said.

IGH's long term plan is to open a branch office in Romania and continue efforts to connect and cooperate with local and foreign partners that are already active on that market, IGH's press release said.

IGH already has a branch in Georgia, which opened in 2016 after the company won its first contract in that country. Currently that branch employs about 100 workers working on five projects and on obtaining new contracts, IGH underscored.

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