Afcons Infrastructure has been notified by Croatian Motorways Ltd that two road construction tenders, Package J324/23 and Package J325/23, have been cancelled. The company had previously been identified as the Lowest Bidder (L1) for both packages in July 2025. The Client cited that the offers submitted by Afcons exceeded their planned financial resources for the infrastructure projects. The company stated it will monitor the situation and provide updates as they arise.
Background of the Tender
On July 17, 2025, Afcons Infrastructure had informed the stock exchanges of its success in being declared the Lowest Bidder (L1) for two distinct road development packages in the Republic of Croatia. These projects, managed by Croatian Motorways Ltd, were intended to expand regional infrastructure through Package J324/23 and Package J325/23.
Details of Project Cancellation
In a formal communication received by the company, the Client confirmed the termination of the tender processes for both projects. The primary reason provided for this decision is that the financial bids submitted by Afcons exceeded the client’s allocated budget and secured financial resources for these specific infrastructure developments.
Future Outlook
Following this communication, the company has officially acknowledged the cancellation. Afcons Infrastructure maintains that it will continue to track developments related to this matter and will keep stakeholders informed should there be any further updates or changes to the project status in the future.
Source: BSE
