Five potential investors have submitted bids in a tender by natural gas transmission company Nomagas for the construction of the Macedonian part of a natural gas interconnector with Greece, an assignment valued at 83.7 million euros, VAT excluded, according to local media reports.

The tender attracted four bids from foreign companies and one from a local one, Nomagas said in a statement.

The evaluation is underway with no set deadline due to the voluminous nature of the proposals. However, Nomagas expects construction to start by the end of March if there is an acceptable offer.

Nomagas launched the tender for the works on the gas link in November and the final deadline for applications ended on February 1. The project involves the construction of a 67 km gas pipeline and the installation of the accompanying facilities, which should be completed in 34 months after the signing of the contract, according to the tender documents.

The project is implemented with funds provided by the European Investment Bank (EIB).