August 30 (SeeNews) - Croatian civil engineering company Institut IGH [ZSE:IGH] said on Monday that will carry out works worth 3.7 million kuna ($582,000/494,000 euro) for state motorway operator Hrvatske Autoceste (HAC).
The sum represents 35% of the value of a 10.5 million kuna consultancy services contract that a consortium comprising IGH and its peer Inzenjerski Projektni Zavod signed with (HAC), Institut IGH said in a filing to the Zagreb Stock Exchange (ZSE).
The overall contract covers preparation of a design project, a feasibility study and provision of permits for the reconstruction of the Jankomir – Ivanja Reka bypass of Zagreb by building a third driving lane, design of the main and the operational projects and the provision of a construction permit for the Jankomir – Lucko section.
The services have to be provided in the span of 42 months after the signing of the contract.
Institut IGH's shares traded 3.75% higher at 124.50 kuna on the ZSE intraday on Monday, bourse data showed.
(1 euro = 7.491 kuna)