Three Romanian firms, one insolvent, win EUR 40 mln highway contract

Romania's National Company for Highways has awarded a EUR 40 million contract for the construction of the Targu Mures- Ungheni highway stretch. Romanian companies Lemacons, Vega 93 and Arcada will build the 9.2 km stretch, which is part of the Transylvania Highway (Brasov-Targu Mures-Cluj-Oradea). The construction is 85% financed by European cohesion funds and 15% by state budget money. All three companies are based in Galati, eastern Romania. Vega 93 filed for insolvency a few months ago. The companies have 12 months to complete work. editor@romania-insider.com