Stakes in the joint-venture will be established after the contract is signed, Condmag said in a statement to the Bucharest Stock Exchange.
Last week, Condmag and Trustul de Instalatii si Constructii and Gazproiect signed a RON21.8 million (about EUR5 million) contract with state-owned natural gas transporter Transgaz (TGN.RO) to repair a gas pipe.
Mid-July, Condmag and Inspet announced they would build a natural gas compression system for state-run gas company Romgaz Medias, in Mures county,
Inspet Ploiesti specializes in the construction and maintenance of oil and gas equipment and is held by 227 individual shareholders.
Condmag builds oil, gas, and water pipelines and is owned by businessman Gheorghe Calburean.