The pipeline will connect Masloc and Recas localities in Timis county, western Romania.
The contract was awarded in early November, via an outcry auction.
Dafora (DAFR.RO) controls 45.82% of Condmag shares, while Dutch fund OGBB A Van Herk holds a 10.91% stake.
Transgaz is 73.5%-owned by the Economy Ministry. Investment fund Fondul Proprietatea (FP.RO) has almost 15% of its shares and the rest is distributed among minority shareholders.
At 12:00 pm in Bucharest, Transgaz traded flat at RON202.1 a share, while Condmag’s shares were losing 2.04% at RON0.0818, amid a slightly declining market. (EUR1=RON4.5342)