Alpine Bau has so far cashed 305.9 million lei (EUR69.1 million), net of VAT, for the project aimed at building the second highway section which is 84.75% completed, said CNADNR.
The highway’s construction has been divided into two sections with a total length of almost 39 km. The contract to construct the first section was awarded to Romanian-Portuguese consortium Romstrade- Monteadriano Engenharia e Construcao-Donep Construct for EUR115.8 million, while the contract for the second section was won by Alpine Bau for EUR124.45 million. Work on Arad-Nadlac began in the fall of 2011 and is due in 2013.
End-November 2012, CNADNR also terminated the contract to build the first section of the highway, arguing that the consortium selected to build the section breached the contract terms. Among the reasons for terminating the contract, CNADNR also cited construction delays.
Alpine Bau GmbH, Austria’s second-biggest construction firm, filed for insolvency on June 19, 2013 with liabilities of up to EUR2.6 billion ($3.5 billion) in what became the country’s biggest corporate collapse since World War Two. (EUR1=RON4.4209)