May 7 (SeeNews) - Croatian civil engineering company Institut IGH [ZSE:IGH] said that, as a member of a consortium led by Italian architecture and engineering company Archest, it has signed a framework agreement with Italy’s national road and motorway authority Anas for the provision of technical-administrative assistance services.
The estimated value of the framework agreement is 5.0 million euro ($5.4 million), of which 40% is earmarked for the services provided by Institut IGH, the company said in a filing to the Zagreb bourse on Monday.
"This agreement represents a significant step in expanding Institut IGH's operations into the Western European region, strengthening its position as a reliable partner in the European Union," the company said.
Shares of Institut IGH last traded on May 2, ending 9.56% lower at 12.30 euro on the Zagreb Stock Exchange.
($ = 0.928 euro)