November 14 (SeeNews) - Croatian civil engineering company Institut IGH [ZSE:IGH] said on Tuesday that it has signed a $6.077 million (5.6 million euro) deal with the Armenian Ministry of Territorial Administration and Infrastructure to provide supervisory services for a road construction project.
The agreement involves the supervision of construction activities for the 32-kilometre road section from Kajaran to Agarak, extending to the entrance of the planned tunnel Agarak-Vardanidzor-Kajaran, Institut IGH outlined in a filing to the Zagreb bourse. This road segment is integral to the north-south road corridor investment project initiated by the Armenian government.
Institut IGH announced earlier this month that is has set up an Armenian branch office.
Institut IGH's shares traded 4.97% higher, at 9.50 euro, intraday on Tuesday on the Zagreb bourse.
($ = 0.926 euro)