Arabs want to build Corridor XI and Morava Corridor - Construction Ministry inks Memorandum of Cooperation with GIDC

Minister of Construction and Urban Planning Velimir Ilic signed today a Memorandum of Cooperation with the company G.I.D.C. – a joint venture of the Republic of Serbia and Global Capital Advisors Management from the United Arab Emirates (UAE), which will finance with €20 million the preparation of technical documentation for the construction of Corridor XI from Pozega to the border with Montenegro, it was announced on the website of the Serbian government.

The joint venture G.I.D.C. will also prepare a feasibility study on the construction of this part of the motorway towards Montenegro and will propose a model of public-private partnership.

After signing the memorandum, the Minister of Construction and Urban Planning told reporters that partners from the UAE were interested in building this part of Corridor XI, 106.8 kilometers long, and the Morava Corridor, from Pojate to Preljina.

He added that the Ministry of Construction and Urban Planning today announced a tender for the choice of a consultant who will make a draft concession contract for the construction of Corridor 11 from Belgrade to Obrenovac, and concessions will be entrusted to Chinese companies.

The Serbian government adopted the text of the memorandum stipulating that G.I.D.C. will take over the financing of investment technical documentation that would determine the spatial, environmental, financial and economic justifiability of the investment for construction of the section of the motorway on Corridor 11 from Pozega to Boljare, 106.8 kilometres long.

Ilic signed the memorandum at the Serbian government with General Manager of the company for development of industrial and infrastructure projects in Serbia G.I.D.C. Sasa Milovanovic.