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FinancialNews
07-04-19
Saudi-led consortium snatches major pipeline contract
(MENAFN) A contract for the construction of a pipeline that moves Russian natural gas across Bulgaria was granted to a Saudi-led consortium.
Arkad Engineering, a construction giant in Saudi Arabia, is leading the consortium with Arkad ABB in Italy after winning the USD1.23 billion tender.
Under the agreement, a statement confirmed, the consortium will be responsible for providing needed tools and materials along with investment design and other tasks for the project.
It added "we have completed the public procurement for the selection of a contractor in an open procedure under the Public Procurement Act (PPA) entitled 'Procurement of the Expansion of the gas transmission infrastructure of Bulgartransgaz EAD' in parallel with the north (main) gas pipeline to the Bulgarian-Serbian border."
MENAFN0704201900450000ID1098355372
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