A Saudi Consortium comprising Arkad Engineering and a Milan-based Arkad-ABB joint venture has won the tender to build a gas pipeline in Bulgaria, according to state network operator Bulgartransgaz, Reuters reported.

The consortium offered the lowest bid for the Bulgarian pipeline. Therefore, it was selected because it offers the most economically advantageous tender in the awarding criteria.

The consortium plans to finalize constructing the gas pipeline either by 2020 for $1.24 billion or within eight months for $1.45 billion.

The 474-km pipeline links Bulgaria’s southern border with Turkey to its western border with Serbia.