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The Hungarian unit of French construction company Colas has won a tender to build a 6.6km stretch of the M0 ring road for HUF 10.9 billion (€37.05 million), Kálmán Reményik, CEO of state-owned national infrastructure developer NIF Zrt, said.
EU funding will cover 85% of the costs with the remainder financed from the central budget.
The construction will be completed by mid-2011.
Colas-Hungária beat three other bidders in the tender, submitting the lowest bid. The winning bid was also below the HUF 11.7 billion calculated by the highest bid in the tender was HUF 14 billion. (MTI – Econews)