Afcons Infrastructure Limited has informed regarding Clarification w.r.t. recent intimations dated May 11, 2026 and May 16, 2026 on Croatia Projects
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Afcons Infrastructure has clarified its status on two types of projects in Croatia. The company was L1 (lowest bidder) for two road construction packages and one railway project. For the railway project (Dugo Selo-Novska line), the company has been selected as the most suitable bidder with a proposal to accept its bid. However, both road tenders (Packages J324/23 and J325/23) have been cancelled because the company's quoted price exceeded the client's available financial resources. This clarification comes after previous intimations dated May 11 and May 16, 2026.
Mixed impact for shareholders: the railway project proceeding is positive, but the cancellation of two road packages means the company loses those potential contracts and the associated revenue. The cancellation was due to pricing rather than technical capability.