Tekfen Holding has announced that it has learned that there has been an objection to the 1 billion 160 million Romanian leu tender won by Tekfen Construction, its subsidiary, in Romania.
In the statement made by Tekfen Holding to the Public Disclosure Platform regarding TKFEN stock, “With our statement dated 23.05.2023, one of our subsidiaries Tekfen İnşaat ve Tesisat A.Ş. is planned to be built by The National Road Infrastructure Management Company SA (CNAIR) in Romania, ‘PLOIESTI’. -BUZAU HIGHWAY LOT 3: Pietroasele-Buzau, km 49+350 –km 63+250′ We have announced that we have received the letter announcing that we have won the tender to undertake the project and that we will be called to contract negotiations if no objection is made to the tender result. It has been learned that an objection has been made to the outcome of the tender, and when the objection process is completed, information will be given again.
Tekfen Holding said in a statement that the tender was won, “The total duration of the project, including mobilization, is 20 months. The project cost is 1,160 Billion Romanian Leu. (approximately $252 million). If no objection is made to the said tender result within 10 days from the date of writing, we are expected to be invited by the Administration to sign the contract.” he said.
While TKFEN stock was trading at a price of 26.52 TL on the day of the tender announcement, it reached 34.90 TL price levels (a 31.5 percent increase in value) yesterday. Shares are trading down 1.7 percent today.
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