Bulgaria's top construction company "Glavbolgarstroy" will continue to build the southern loop of Sofia's beltway.

The company's bid for the 2.14-km section between the "Simeonovsko Shosse" boulevard and the "Mladost 4" district was the lowest among a total of 11 offers.

"Glavbolgarstroy" is prepared to build the road for BGN 37 000 B without Value Added Tax (VAT), which is 35% less than the estimated price of BGN 56 M without VAT of the State Road Agency.

Out of the 11 bidders, 5 made it to the final round. The Austrian "Alpine Bau" was the only foreign finalist.

The second lowest bid belongs to the consortium between "Trace Holding," SK 13, "Balknastroy," and "Stanilov" – BGN 40.5 M.

The project is financed by the EU operational program Regional Development.