Chinese Exim Bank to finance construction of section of highway to Montenegro – Loan for Preljina-Pozega road to be approved soon

The Ministry of Construction, Transport and Infrastructure has confirmed to eKapija that the loan from Exim Bank for the financing of the construction of the section of the highway to the Montenegrin border is expected to be approved soon.

– Regarding the remaining two sections up to the border to Montenegro, a commercial agreement worth EUR 450 million on the first one, from Preljina to Pozega (30.9 km) was signed with the Chinese company CCCC in November 2017 and the loan from the Chinese Exim Bank for the financing of this project is expected to be approved soon – the ministry says for eKapija.

They remind that the Memorandum of Understanding concerning the continuation of the construction of Corridor 11, entailing the other remaining section, Pozega-Boljare (107 km), was signed with CCCC in May 2017 in Beijing.

– Based on the memorandum, talks about the terms of the construction of this section, most probably through a PPP or a concession model, will be held in the upcoming period – the ministry explains for our portal.

Montenegrin Prime Minister Dusko Markovic previously stated that Serbia should soon sign an agreement with the Chinese company on the financing of the construction of the highway up to the border with Montenegro. As agencies reported, citing him, “a contract on the highway to Pozega” is being prepared.

The Montenegrin prime minister said that he believed that “citizens will soon be provided with a highway that will connect Montenegro not just internally, but also with Serbia and Southeast Europe”.

The Chinese company CRBC is interested in a public-private partnership with the Government of Montenegro on the construction of the entirety of the Bar-Boljare highway. They should sign a memorandum of understanding with representatives of the Montenegrin government concerning the project.

– CRBC is interested in building sections from Matesevo to Andrijevica and further to Boljare – Montenegrin Minister of Transport Osman Nurkovic said and added that the exact cost couldn’t be specified. He clarified that the signing of the memorandum didn’t mean that CRBS was favored over any other bidder interested in a PPP.

Ministarstvo građevinarstva, saobraćaja i infrastrukture Republike Srbije

The Export-Import Bank of China

Ministarstvo pomorstva Crne Gore

CRBC Bejing

Exim Bank China

Exim Bank

highway to Montenegro

CRBC Beijing

CCCC China

Corridor 11

Bar Boljare highway

highway from Bar to Boljare

Pozega Boljare section

Preljina Pozega section

section from Pozega to Boljare

section from Preljina to Pozega

Serbia Montenegro highway

Dusko Markovic

Osman Nurkovic

PPP

public private partnership

PPP for Montenegro Serbia highway