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Italian-led tie-up in 504 mln lei (102 mln euro) deal to widen Bucharest ring road

Italian-led tie-up in 504 mln lei (102 mln euro) deal to widen Bucharest ring road Works on Bacau bypass road Source: Romania's road infrastructure company

BUCHAREST (Romania), July 5 (SeeNews) - Romania's road infrastructure company CNAIR said on Tuesday that a consortium led by Italian construction and civil engineering group Rizzani de Eccher has signed a 504 million lei ($106 million/102 million euro) contract to widen the southern part of Bucharest ring road.

The design and execution works are expected to take up to 36 months, with a warranty period of ten years, CNAIR said in a press release.

Alongside local construction company Mavgo Holding, Rizzani will widen two sectors of the road belt to four lanes and will build two underground passages.

The investment is financed through non-reimbursable EU funds under the Large Infrastructure Operational Programme.

Rizzani de Eccher S.p.A. is an Italian general contractor with headquarters in Pozzuolo del Friuli, northeastern Italy, active globally in the areas of engineering, infrastructure and buildings construction.

The company entered Romania in May, when it signed a 30 million euro ($31.3 million) contract with CNAIR for works in the southern city of Craiova road bypass project, according to information published on its website.

Mavgo Holding was founded in 2020 in Bacau county and had 422 employees at the end of last year.

(1 euro=4.9448 lei)