Bulgaria’s Trace Group wins 4.5 mln euro monastery restoration deal

The agreement covers construction as well as preservation and renovation works for a period of 320 calendar days, the company said in a stock exchange filing on Monday.

The contracting activity is Kremikovtsi Monastery.

The contract is part of a project aimed at the restoration and preservation of the cultural heritage as well as its promotion of the monastery as a tourist destination, according to the monastery’s website. The total value of the project is estimated at 9.84 million levs.

As at 0817 CET on Tuesday, shares in Trace Group traded flat at 3.64 levs on the Bulgarian Stock Exchange.

Earlier this month, the company was awarded a 3 million levs street rehabilitation contract by Pavel Banya municipality. In October, a consortium led by Trace Group won a 169.7 million euro ($173 million) order for the reconstruction and modernisation of a railway section in Serbia.

(1 euro = 1.95583 levs)