A Saudi consortium comprising Arkad Engineering and a Milan-based Arkad-ABB joint venture has offered the lowest bid to build a pipeline in Bulgaria, Reuters reported.
The consortium offered constructing the pipeline with around $1.2 billion by the end of 2020.
The 474 km pipeline will carry Russian natural gas across Bulgaria, according to Bulgarian network operator Bulgartransgaz.
The pipeline will connect Bulgaria’s southern border with Turkey to its western border with Serbia to secure a link to the Russia-backed TurkStream twin pipeline to Serbia and Hungary.
Three groups have offered to construct the pipeline earlier in March 2019. “We will look carefully into the offers and will come up with a decision early next week,” said Vladimir Malinov, Bulgartransgaz’s CEO.