Bulgaria awards 111.5 mln euro railway upgrade deal to local-led tie-up

The contract was signed on November 7 with a tie-up comprising local company Infrastructurno Stroitelstvo and Spain's Marco Obra Publica, NRIC said in a notice.

According to registry agency data, Infrastructurno Stroitelstvo owns a 90% stake in the tie-up. Infrastructurno Stroitelstvo closed 2018 with a net profit of 2.8 million levs on turnover of 21.7 million levs, according to its annual financial statement.

The public procurement procedure for awarding the contract attracted five offers.

The project benefits from EU funding under Operational Programme Transport and Transport Infrastructure 2014-2020.

The Orizovo-Mihaylovo railway section modernisation is part of a larger project for the rehabilitation of the railway link between the country's second biggest city - Plovdiv, and the city of Burgas, on the Black Sea coast.

(1 euro = 1.95583 levs)