Monday, September 5, 2011

Romania Selects Astaldi to Build $166 Million Highway Section

Romania selected Astaldi SpA (AST) and Max Boegl Romania SRL to build a 20.5 kilometer (12.7 miles) highway section from Cernavoda to Medgidia as part of a motorway linking the Bucharest to the Black Sea port of Constanta, the Transport Ministry’s road department said in an e-mailed statement today.

The value of the contract is 499 million lei ($166 million) and the road will be completed in 15 months, according to statement. The funding for the highway section will be covered by the European Investment Fund, the European Union and Romania’s state budget, the ministry said.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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