December 27 (SeeNews) - Bosnia's Serb Republic road company Putevi Republike Srpske (RS) said it signed a Memorandum of Understanding (MoU) worth 300 million euro ($334 million) with Chinese company China Railway 14th Bureau Group (CRCC14) for the reconstruction of the entity's road network.
The project envisages the complete reconstruction of all main and regional roads in the Serb Republic in the next three years, Putevi RS said in a press release on Thursday.
The road works will be financed with a 15-year loan at a soft interest rate, including a three-year grace period, it added.
The final agreement for the launch of works should be signed on April 15, 2020, in China.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
($ = 0.898 euro)