Israel's Baran Group announced that BMD partnership, a consortium in which Baran holds a 33 percent stake, had won exclusive negotiation rights for the construction and operation of a 12-km long highway in Romania.

"We have agreed that Baran will finance and support workings at the Ploiesti western bypass as part of a public-private partnership," Romania's National Road Administration (AND) general manager Mihai Basulescu said.

The project is expected to generate E46 m worth of revenues over 10 years and should cost E25m to implement. It is the first project BMD has participated in. The programme is expected to be completed in two years and BMD will be granted rights to operate the highway for up to 10 years.

The commercial terms of the project are yet to be finalised with the Romanian government.

(NewsBase 14.vii.03)