Montenegro to start work on its Bar-Serbian border motorway

China's Exim Bank has paid €94.30 million as the first installment for construction of the first part of the Bar-Serbian border motorway. Montenegro’s minister of finance, Radoje Zugic, said that construction is expected to begin within the next few weeks. Exim Bank has approved 85% of the total €810 million load, payable over 20 years, for construction of the first part of 49km of the motorway. Is set at 2% with a grace period of six years. Total length of the motorway will be 170km.
May 6, 2015 Read time: 1 min
China's Exim Bank has paid €94.30 million as the first installment for construction of the first part of the Bar-Serbian border motorway.

Montenegro’s minister of finance, Radoje Zugic, said that construction is expected to begin within the next few weeks.

Exim Bank has approved 85% of the total €810 million load, payable over 20 years, for construction of the first part of 49km of the motorway. Is set at 2% with a grace period of six years.

Total length of the motorway will be 170km.
Finance & Funding

Related Content

  • Serbian road gets Chinese funding
    November 30, 2012
    The Serbian government has reported that it is planning to sign a loan agreement with China's Exim Bank for new loans worth US$ 1.1 billion for construction of the Corridor 11 motorway. Minister of Finance, Mladan Dinkic, said that the loan will be used for construction of the Belgrade-Ljig and Pojate-Preljina motorway parts. The contract agreement is due to be signed by the end of 2012 or beginning of 2013. Works are expected to start sometime next year.
    Read More
  • China loans €249.61mn for Serbia Corridor 11 motorway
    August 14, 2013
    Serbian Minister of Construction, Velimir Ilic, has announced that the Chinese Ministry of Economy has approved Serbia a loan of €249.61 million for the construction of the Corridor 11 motorway. Ilic said that the works on the motorway will begin in September 2013, after the loan was approved by China's Exim Bank at the end of June 2013. The major infrastructure project will include construction of the Obrenovac-Ub and Lajkovac-Ljig motorway sections covering a total length of 50km. The Chinese company Shan
    Read More
  • Serbia’s pan-European Corridor X is in the slow lane
    October 23, 2017
    It’s been slow progress on Serbia’s Corridor X project. Gordon Feller reports. Back in the early 2000’s, the European Union undertook an ambitious programme to link the main cities of its south-eastern region. This involved connecting five key seaports – the Greek cities of Patras, Igoumenitsa, Piraeus and Thessaloniki as well as Romania’s Black Sea city of Constanta. Initially the plan involved two motorways across Greece. The first was a new 780km route including a branch to Ormenio on Greece’s north-eas
    Read More
  • Cowi appointed advisor for Bar-Boljare highway in Montenegro
    November 16, 2017
    Consulting engineer Cowi has been appointed adviser on bridge and tunnel work for the Smokovac-Uvac-Matesevo section of the 170km Bar-Boljare highway in Montenegro. The Smokovac-Uvac-Matesevo section is a priority project for the Bar-Boljare highway project that will eventually run north to south from Montenegro's main sea port of Bar to the Serbian border. Cowi was awarded the work from main project contractor China Road and Bridge Corporation.
    Read More

Highlighted Content