Clarification w.r.t. recent intimations dated May 11, 2026 and May 16, 2026 on Croatia Projects
AFCONS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Afcons Infrastructure has clarified developments on two sets of Croatia projects. For the Dugo Selo-Novska railway project with HŽ Infrastructure Ltd, the company has been selected as the most suitable bidder and the client intends to accept its bid for rehabilitation and construction work. However, for the two road packages (J324/23 and J325/23) with Croatian Motorways Ltd, both tenders have been cancelled. The client cited that Afcons' offer price exceeded their planned and secured financial resources as the reason for cancellation.
The cancellation of the two road projects removes potential international revenue opportunities, though the railway project moving forward provides some positive offset. The pricing being too high for the road contracts may indicate tight margins or competitive challenges in international bidding.