Bulgaria's Road Infrastructure Agency (RIA) said on Tuesday it has launched a 2.97 billion levs ($1.66 billion/1.52 billion euro) tender for the construction of the third and final section of a motorway that would connect the cities of Ruse and Veliko Tarnovo.

The project, spanning nearly 60 kilometres between the town of Byala and Veliko Tarnovo, is divided into three lots, the government agency said in a press release. Each selected contractor must develop a complete and coordinated technical design and prepare a detailed development plan.

Potential bidders can submit their offers until May 13. The project has a term of 1,770 days to complete.

The entire 133-kilometre motorway in northern Bulgaria is divided into three sections - between Ruse and Byala, a bypass around Byala, and between Byala and Veliko Tarnovo. Contracts for the first two sections have already been awarded, with the technical design process underway and construction in progress on part of the Byala bypass.

Once completed, the motorway will provide a vital corridor, linking northeastern Europe through Romania and Bulgaria to Greece and Turkey, as well as connecting the Baltic Sea to the Mediterranean, RIA said.

(1 euro = 1.95583 levs)