PARIS -(Dow Jones)- A consortium including French construction company Vinci SA (VCISY) has been named as the preferred bidder for the first public-private partnership contract to build a motorway in Cyprus, the company said in a press statement Monday.
The project, which will link Paphos to Polis, consists of a 30-year contract worth a total of EUR470 million and includes the financing, design, construction and operation of the motorway.
Vinci represents 40% in the consortium, which is completed by J&P, representing 45% and Cybarco representing 15%.
The construction work will last four-and-a-half years and amounts to EUR275 million; it includes the construction of nine viaducts and three tunnels, Vinci said in a statement.
-By William Horobin, Dow Jones Newswires; +33 40 17 17 40; [email protected]
This will obviously make Polis properties go up.