September 16 (SeeNews) - Croatian civil engineering company IGH [ZSE:IGH] said on Monday it was selected as the best bidder in a 40,000 euro ($44,000) project for drawing the design of two road sections in Georgia.
The projects are managed by the state-run Roads Department of Georgia and include the design of the 3-km long section on the Marneuli - Tetri Tskaro - Tsalka road and a 14-km long stretch on the Sagarejo - Udabno - Davit Gareji Monastery road, IGH said in a statement.
IGH said it participated in the competition via its Georgian subsidiary. The design projects should be drafted within three months.
The renovation of the two road sections is of great importance for eastern and southern Georgia, especially the road leading to the Davit Garej Monastery, a complex of more than 20 monasteries which is among the country's top tourist destinations, IGH said.
IGH's shares closed 0.65% higher at 155 kuna ($23/21 euro) on the Zagreb Stock Exchange on Monday.
(1 euro = 7.39286 kuna)