TIRANA (Albania), December 9 (SeeNews) – The Albanian Development Fund (ADF) said it has selected Saudi Arabia-based Rawafed Al-Torok Contracting as the winner in a tender for the upgrade of the Gusmar – Kuc rural road in the country’s southwestern region of Vlora.
The assignment is estimated to cost $5.8 million (5.2 million euro), value added tax included, ADF said in a statement on Friday.
The construction works must be completed within 12 months. Ten bids were submitted in the tender.
The assignment is part of a project for improving regional and local roads connectivity in Albania and financed with the proceeds of a $50 million loan from the World Bank.
The ADF is a public agency whose mission is to encourage a sustainable, balanced and cohesive socio-economic development at local and regional level. The ADF was established at the beginning of 1993, based on an agreement between the Albanian government and the World Bank.
($ = 0.90378 euro)