Hungary's National Infrastructure Development Company (NIF) on Thursday signed a contract with a consortium of construction companies on a HUF 34.8 billion expansion of the southern section of the M0 ring road around the capital.
Work on the 11-kilometer section is expected to start in 2-3 months and finish by the summer of 2012, said NIF investment director János Galuska.
The consortium of A-HÍD Építő, KÖZGÉP, STRABAG-MML, MAGYAR Aszfalt and COLAS Hungária was announced the winner of the tender to build the section on December 23, after a decision by the Public Procurement Arbitration Board (KDB).
European Union funding of HUF 111.3 billion will cover 85% of the cost of building the entire southern section of the M0 motorway. (MTI-ECONEWS)