Monday, May 23, 2011

Romania Signs Five Road-Building Contracts Worth $982 Million

By Irina Savu - May 20, 2011

Romania signed five contracts valued at 693 million euros ($982 million) with construction companies to build motorways financed mainly by the European Union, Transport Minister Anca Boagiu said.

The ministry awarded two contracts worth about 291 million euros to Austria’s Alpine Bau GmbH and Italy’s Impregilo SpA (IPG), while three groups led by Romanian companies Spedition UMB and Romstrade and Italy’s Tirrena Scavi SpA received the other agreements, according to an e-mailed statement today.

“We managed to save more than 600 million euros through these contracts, compared with the initial project estimates,” Boagiu said in the statement.

To contact the reporter on this story: Irina Savu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

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