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