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

  • Works planned for Montenegro’s new highway
    August 18, 2022
    Construction works are being planned for Montenegro’s new highway.
    Read More
  • Serbia in talks with Chinese firms over Corridor 11 completion
    February 12, 2015
    Serbia will enter into talks with two Chinese companies chosen through a tender process that expired this month for restarting construction on the stalled Corridor 11 motorway. Serbian Minister of Construction Zorana Mihajlovic said Shandong Hi-Speed Group and the China Road and Bridge Corporation qualified for tender participation. Work includes construction and maintenance of 17.6km of motorway near Belgrade, between Surcin and Obrenovac as welll as the 31km Preljina-Pozega road and maintenance of t
    Read More
  • Road investment benefit for Montenegro
    February 11, 2014
    China's Exim Bank is providing financing worth some €800 million to the Government of Montenegro for a highway project. The loan will be used to pay for work to a section of the Bar-Boljari highway stretch. The work on the Podgorica-Kolasin stretch is due to commence shortly and will be carried out by the Chinese contractor CC International. The Government of Montenegro will borrow some €118 million for capital projects and €240 million for the budget requirements. Of this, €10 million is to be borrowed fro
    Read More
  • New cross border connection between Serbia and Macedonia
    August 19, 2014
    Plans are in hand in Macedonia for the new highway that will run from Bar to the Serbian border. The Macedonian Government recently held talks with Chinese construction company CRBC with regard to the project. The Chinese contractor is commencing construction once a loan from China’s Exim bank is fully secured. Meanwhile over the border in Serbia, the Ministry of Transport has said that 2014 will see some 60km of new major roads opening to traffic. In 2015 work on another 210km of roads will commence in the
    Read More

Highlighted Content