March 3 (SeeNews) - Autoceste FBiH, the state-owned motorway operator of Bosnia's Federation, said it has selected Turkey's construction and engineering company Cengiz Insaat Sanayi VE Ticaret A.S. to build the Medakovo - Ozimice section of European transport Corridor Vc for 361.8 million euro ($384.1 million), VAT excluded.
Cengiz submitted the lowest bid in the tender which attracted a total of three offers, Autoceste FBiH said in a statement on Thursday.
The agreement for the construction of the 21.3-kilometre section is expected to be signed later in March, whereas works on the motorway section should be completed within 30 months.
The section includes one interchange, two two-sided rest areas, eight bridges and viaducts, two overpasses, 15 underpasses and one 2.2-kilometre-long tunnel.
The project is financed through a loan provided by the European Investment Bank (EIB) and a grant from the European Union (EU).
Corridor Vc has a total length of 700 km and connects the port of Ploce in Croatia with Budapest in Hungary, stretching some 340 km across Bosnia.
The Federation is one of the two autonomous entities that form Bosnia and Herzegovina. The other is the Serb Republic.
($ = 0.942013 euro)