Azvi Wins $52 Million Road-Building Deal in Serbia

Azvi Grupo of Spain won a $52.4 million contract to build a highway in Serbia, expanding its business in the biggest former Yugoslav republic.

Azvi has 24 months to build a 6.1-kilometer (3.79 miles) stretch between Grdelica and Predejane, part of the highway linking Serbia’s southern town of Nis with the Macedonian border, the Sevilla-based company said on its website today.

Serbia is building roads and improving infrastructure as part of a broader effort to attract foreign investment. Funding for the project will come from the European Investment Bank, the World Bank and the Serbian government.

Trace Group Hold AD (T57), Bulgaria’s biggest road builder, said today it won a $46 million contract to build a 5-kilometer section of the same highway.

To contact the reporters on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net