Bulgartransgaz, the state-owned Bulgarian gas transmission network operator, said on Wednesday that it has picked a consortium comprising Saudi Arabia's Arkad Engineering and Construction Company and Italy-registered Arkad ABB to build a 484 km pipeline for transit of natural gas from the border with Turkey to the border with Serbia.The consortium has offered to build the pipeline for 1.29 billion euro ($1.45 billion) within 250 days, or for 1.10 billion euro should the deadline be extended to 615 days, Bulgartransgaz said in its decision. In another development related to Bulgaria's gas infrastructure, the European Commission said on Tuesday it has approved 33 million euro ($37 million) in EU financing for the construction of the gas interconnector Greece-Bulgaria.Also on Tuesday, ICGB, the company developing the Gas Interconnector Greece-Bulgaria project, said that Greece's J&P-AVAX and a tie-up named IGB-2018 have submitted offers in the tender for awarding a contract for construction of the gas link. The tender is worth an estimated 145 million euro, VAT excluded. ICGB is planning to complete the selection process next month, paving the way for construction works to begin in June. The deadline for completing construction works is 18 months from their start.The IGB pipeline will connect the Greek gas transmission system in the area of Komotini to the Bulgarian gas transmission system in the area of Stara Zagora.The planned length of the pipeline is 182 km and the projected capacity will be up to 3 billion cu m per year in the direction from Greece to Bulgaria.