Bulgartransgaz said on Wednesday that it has picked a tie-up 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, the state-owned Bulgarian gas transmission network operator said in its decision.
DZZD Consortium Gas Development and Expansion in Bulgaria, comprising Italy's Consorzio Varna 1 and the Bulgarian branch of Luxembourg-registered Completions Development, was ranked second in the tender, with price offers of 2.41 billion euro and 1.60 billion euro for the respective construction periods of 250 days and 650 days.
A third candidate, a tie-up of ОТ Industries Fovallkozo Zrt. and OT Industries – KVV Kivitelezo Zrt. was disqualified by Bulgartransgaz.