ICGB opened publicly the submitted offers in the tender for construction of the interconnector with Greece

The largest public procurement in the IGB project is close to the end; the estimated value of the tender is set as a total price of EUR 145 million excluding VAT

Today in the office of the project company ICGB AD was held a public meeting for opening of the offers submitted in the procedure for design, procurement and construction (EPC) of the gas interconnector Greece – Bulgaria. The estimated value of the public procurement is set as a total price of EUR 145 million excluding VAT and the deadline for completing the construction is 18 months after the start of the contract.

Over 10 Bulgarian and foreign companies and consortia expressed interest in the public procurement and submitted documents in the first phase of the procedure. The tender is conducted as a restricted procedure, meaning that only five candidates can proceed to the second phase and submit offers. The admitted candidates invited for phase two are as follows:

1. DZZD “IGB-2018”
2. Consortium MAX STREICHER – TERNA/ICGB 
3. Consortium Spiecapag Trace IGB 2018 
4. J&P – AVAX S.A
5. Joint Venture CPP-AKTOR

Two of the candidates invited for the second phase of the tender submitted offers within the deadline specified by the Contracting Entity – DZZD “IGB-2018” and J&P – AVAX S.A.

The next steps include review and evaluation of the technical proposals, technical assessment in accordance with the indicators of the methodology and opening of the price proposals.

ICGB plans to complete the selection process in May, securing the start of the construction works in June. “The project company and its shareholders have mobilized all the resources to comply with the schedule for starting construction, relying on the high quality of the technical proposals of the participants and their professionalism”, said the Executive Officers of the company Teodora Georgieva and Konstantinos Karayannakos.

DZZD “IGB-2018” and J&P – AVAX S.A. are both participants of international scale with proven quality and a high level of work that ensures a good competitive environment and the selection of the most economically advantageous tender for the project.

The IGB Project (Gas Interconnector Greece-Bulgaria) is being implemented by the joint venture company ICGB AD, registered in Bulgaria in 2011, with shareholders BEH EAD (50%) and IGI Poseidon (50%). The co-shareholder IGI Poseidon is a company, registered in Greece, with shareholders being the Greek public gas corporation DEPA SA (50%) and the Italian energy group Edison SpA (50%).

In accordance with its Statute, ICGB AD will be the owner of the IGB gas pipeline and will finance its realization, will allocate its capacity and will receive the revenue from the transportation of natural gas. 

The IGB gas pipeline will be connected with the Greek national gas transmission system in the area of Komotini and with the Bulgarian national gas transmission system in the area of Stara Zagora. The planned length of the pipeline is 182 km, the pipeline diameter will be 32” and the projected capacity will be up to 3 bcm/y in the direction from Greece to Bulgaria. Depending on the interest from the market and the capacities of the neighboring gas transmission systems, the pipeline is designed for increasing its capacity up to 5 bcm/y for following up the market evolution thus allowing physical reverse flow (from Bulgaria to Greece) with the additional installation of a compressor station. A Memorandum for cooperation between ICGB AD and TAP AG has been signed concerning joint actions in relation to future connection between the IGB pipeline and the Trans-Adriatic Pipeline.

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