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TIRANA (Albania), June 24 (SeeNews) - The Albanian Development Fund (ADF) said it has selected local joint venture G.P.G. Company & Gjikuria as the winner in a tender for the upgrade of the 16 km long Qafe Thore – Theth road in the northwestern region of Shkoder.
The assignment is estimated to cost 736.3 million leks ($6.8 million/6.0 million euro), VAT included, and the construction works must be completed within 10 months, ADF said in a statement on Friday.
Seven bidders took part in the tender. The assignment is part of a project for improving the connectivity of regional and local roads in Albania. It is financed with the proceeds of a $50 million loan from the World Bank.
The ADF is a public agency whose mission is to encourage a sustainable, balanced and cohesive socio-economic development at local and regional level. The ADF was established at the beginning of 1993, based on an agreement between the Albanian government and the World Bank.
(1 euro = 121.351 leks)