February 8 (SeeNews) - Five potential investors have submitted bids in a tender by North Macedonia's state-owned natural gas transmission company Nomagas for the construction of the North Macedonian part of a natural gas interconnector with Greece, an assignment valued at 83.7 million euro ($90.2 million), VAT excluded, local media reported on Thursday.
The tender attracted four bids from foreign companies and one from a local one, news provider Faktor reported, citing a statement by Nomagas.
The evaluation is underway with no set deadline due to the voluminous nature of the proposals. However, Nomagas expects construction to start by the end of March if there is an acceptable offer, the report reads.
Nomagas launched the tender for the works on the gas link in November and the final deadline for applications ended on February 1. The project involves the construction of a 67 km gas pipeline and the installation of the accompanying facilities, which should be completed in 34 months after the signing of the contract, according to the tender documents.
The project is implemented with funds provided by the European Investment Bank (EIB).
In 2021, the governments of North Macedonia and Greece signed an agreement for the construction of a cross-border natural gas interconnector.
North Macedonia does not have natural gas deposits and relies on imports from Russia transited through Bulgaria under a gas supply contract with Gazprom that will expire in 2030.
($ = 0.928 euro)