Aktor-Vinci-Strabag consortium consider suing Romania over calling off auction for Comarnic-Brasov motorway

Aktor Greek company together with Vinci and Strabag consider suing the Romanian state over the call-off of the auction on Comarnic-Brasov motorway won by the consortium consisting of the three companies.

The National Company of Roads and Highways (CNADR) decided to call off the project assigning procedure on the grounds which are not related to the responsibility of the consortium, reads a press release issued by Ellaktor, the parent company of Aktor. “Under these circumstances, the consortium consider exerting all available legal remedies,” Ellaktor also informs.

The Aktor-Vinci-Strabag consortium won the bid of construction the Comarnic-Brasov portion of the Bucharest-Brasov motorway in 2013, but CNADR called the contract off in June this year due to some financing-related problems, while informing it will put up 10 km of this motorway section for auction again with money coming from the state budget.

“The winning bidder (consisting of Vinci-Strabag-Aktor) did not manage to attract the international financial institutions (EBRD, EIB, IFC, etc) to finance the grant project. On the other hand, on the supposition that the financing were exclusively supported by the private financiers, the financing costs to conduct the project would rise,” CANDR argued in June.

The national roads authority also explained the public exposure of the project “promoted a negative reaction particularly regarding the presented costs.”

Aktor Concessions owns a share of 25 percent in the consortium, and Vinci and Strabag 37.5 percent each.