J&P Avax group signs new 172-mln-euro Poland deal

Building group J&P Avax has signed a 172.7-million-euro road construction contract in Poland, pushing its backlog book in the central European country to some 350 million euros, it said yesterday. The deal, signed with Poland’s General Management of National Roads and Highways, relates to the construction of a 7.1-kilometer stretch of highway east of Warsaw. It is scheduled for completion in 31 months. Shares in J&P Avax, which has a market value of 253.9 million euros, have added 23 percent in the last three months, versus a 4 percent rise on the Athens bourse’s benchmark general index. The construction company had signed five other contracts in Poland, including its participation in a joint venture that is building a 145-million-euro stadium in Wroclaw for the Euro 2012 soccer championships.