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Croatia's Institut IGH gets 8.7 mln euro deal in N.Macedonia

Author Annie Tsoneva
Croatia's Institut IGH gets 8.7 mln euro deal in N.Macedonia Road construction; Source: Macedonian Transport Ministry

ZAGREB (Croatia), August 3 (SeeNews) - Croatia's civil engineering company Institut IGH [ZSE:IGH] said on Wednesday it was awarded an 8.7 million euro ($8.9 million) deal for supervision and legal advisory services related to the construction of European transport corridors VIII and Xd in North Macedonia.

The overall value of the deal is 22.6 million euro and Institut IGH got a portion of it as a leading partner in a consortium with local civil engineering company Institut za Patista and the public company for management of state roads, Institut IGH said in a filing to the Zagreb bourse.

The term of the contact is 58 months.

Corridor VIII links Albania's Adriatic port of Durres to the Bulgarian Black Sea port of Varna. Corridor Xd would connect Macedonia's Veles to Greece's coastal town of Igoumenitsa.

Shares of Institut IGH last traded on the Zagreb bourse on Tuesday when they closed 8.13% lower at 73.50 kuna ($9.96/9.78 euro) .

(1 euro = 7.516 Croatian kuna)

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