WYG awarded another big Balkan contract

Global project management and technical consultancy WYG announced on Monday that it has been awarded a €13.1m, four-year technical assistance contract by the European Investment Bank.

The AIM-traded firm said the contract was awarded on behalf of the Western Balkans Investment Framework (WBIF) and financed from the General Budget of the European Union under the instrument for Pre-Accession Assistance.

It said the contract, which commences in early July 2016, is the first major project to be awarded from WYG’s international pipeline since the UK voted to leave the EU, and cements the company’s position as a “leading player” in the Western Balkans through to 2020.

WYG said it is the lead partner in a consortium to provide technical assistance to the fifth Infrastructure Projects Facility (IPF5).

The contract continues WYG’s presence on the series of IPFs undertaken throughout the WBIF, the board said, which commenced in 2008.

It will run in parallel with the existing IPF3 and IPF4 contracts, in which WYG is already a major consortium partner.

“We are delighted to have secured a key role on the latest phase of this major, long term investment programme,” said WYG chief executive Paul Hamer.

“It is a testament to our work on the other four IPFs that our involvement on each phase of this programme is unbroken and, notwithstanding the outcome of the UK's referendum on 'Brexit', further strengthens WYG's longstanding relationship with a number of significant European institutions.

“We look forward to building on the strong relationships we have with our consortium partners to put in place much needed infrastructure and continuing to grow our presence throughout this region,” Hamer explained.