Saudi-led consortium dropped from $1.25bn Bulgaria gas pipeline contract
The project, taken over by a consortium led by Bonatti, is expected to be completed by the end of 2020 with a price tag of $1.25bn
A consortium led by Arkad Engineering has been dropped from a $1.25bn contract for a Bulgaria gas pipeline under state operator Bulgartransgaz, according to Reuters. Instead, a consortium led by Italian contractor Bonatti will build the pipeline to transport natural gas across Bulgaria.
Arkad won the tender for the project last month, but was replaced because it "failed to present the necessary documents upon the deadline to seal the deal," Reuters wrote following a press conference by Bulgartransgaz.
The project is expected to be completed by the end of 2020 with a price tag of $1.25bn, according to Reuters. The Bonatti-led consortium includes German firm Max Streicher and the Luxembourg unit of Russia' TMK.
The 475km pipeline will run from Bulgaria's southern border with Turkey to its western border with Serbia, linking it to Russia's TurkStream twin pipeline network which runs to Serbia and Hungary.