(Alliance News) - Circle Spa announced Tuesday that it will support the European Union in developing policies related to the new European Maritime Space that will replace the Motorways of the Sea in the new TEN-T Regulation.

Circle, specifically, is leading a consortium that also includes Belgian consulting firm ADS Insight and German institute ISL - Institut für Seeverkehrswirtschaft und Logistik.

"With a solid experience in the transport sector, the working group has been supporting the coordinator of the Motorways of the Sea since 2016 and has been involved in the realization of the first four versions of the MoS "Detailed Implementation Plan" of 2016, 2018, 2020 and 2022, and related studies," the SME said.

The contract is worth about EUR385,000 for 24 months, of which Circle is entitled to about EUR138,000, with the possibility of extension up to 48 months and a maximum value of EUR773,800, (of which Circle is entitled to about EUR277,000.

Alexio Picco, managing director of Circle Group, said, "We are proud to continue this strategic work with the European Commission for the development of an innovative concept contained in the new TEN-T Regulation, that of the European Maritime Space."

Circle's stock closed Tuesday down 2.9 percent at EUR6.75 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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