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Serbia seals the deal for start of Belgrade Corridor 11 ring-road - Serbia Business

Serbia seals the deal for start of Belgrade Corridor 11 ring-road

, News

Serbian vice president Zorana Mihajlovic has held talks with Li Manchang, China’s Ambassador to Serbia in Serbia, for continuation of works on Belgrade’s ring road.

According to the political magazine B92, Mihajlovic also signed a memorandum of understanding with Azvirt, the company from Azerbaijan, and China’s Sinohidro.

Discussions included continuation of work on the Surcin-Obrenovac part of the Corridor 11 motorway. A commercial deal for the project has already been signed with the China Communication Construction Company.

In November, Serbia’s Tanjug news agency reported that Serbian Prime Minister Aleksandar Vucic said the deal was worth around €209 million and included construction of the 18km Surcin-Obrenovac bridge. Corridor 11 runs from the Serbian capital Belgrade southwest to the border with Montenegro, another member state of the former Yugoslavia that dissolved after a brutal war in the late 1990s.

Vucic told Serbia’s state broadcaster RTS that the arrangement with China was “a very favourable credit arrangement with a lengthy grace period” that was based on a “dramatically” lower construction cost.

Source; World Highways