Subsidiary of Bulgarian Trace Group Hold to Carry Out Road Repairs worth EUR 408 000 in Serbia’s Nis

Business | June 9, 2015, Tuesday // 11:47
Bulgaria: Subsidiary of Bulgarian Trace Group Hold to Carry Out Road Repairs worth EUR 408 000 in Serbia’s Nis

Trace PZP Nis AD, a subsidiary of Bulgarian construction company Trace Group Hold, has signed a new contract for road repairs in Serbia’s Nis.

The value of the contract for repair works at four streets in Nis, signed on May 25, is EUR 408 319.68, according to a media statement of the company to the Bulgarian Stock Exchange-Sofia, as cited by investor.bg.

The contracting authority is Serbia’s Economy Ministry and the project is to be completed in 110 calendar days.

The project envisages the reconstruction of the following streets: Dragi?a Cvetkovi?, Svetozar Markovi?, Episkopska, and Kosta Stamenkovi?.

Apart from that, on June 15, 2015 Trace PZP Nis will start implementing a project worth EUR 20 585.73 for the construction of roads to facilitate access a business site at the roundabout at Boulevard Sveti Car Konstantin in Nis.

The contracting authority is the Public Enterprise Construction Directorate Nis and the project is to be completed in 45 calendar days.

Trace PZP Nis is currently involved in road repair and maintenance projects in the Nis municipality worth a total of EUR 872 884.
Trace Group Hold signed a contract for acquisition of Serbian road construction company PZP – Nis in August 2014.

In February 2015 Trace Group Hold bought a second Serbia-based road construction company, PZP Vranje, through its local subsidiary Trace PZP Nis.

Trace PZP Nis and Trace PZP Vranje are leading companies in the construction sector in Serbia, operating on the territory of a total of 28 municipalities in the country and being in charge of the maintenance of a road network spanning nearly 3000 kilometers.

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Tags: Trace Group Hold, NIS, Serbia, road construction, road repairs
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