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Bosnia's Autoceste FBiH secures 1.68 bln euro investment for motorway projects

Author Iskra Pavlova
Bosnia's Autoceste FBiH secures 1.68 bln euro investment for motorway projects Bosnia's Autoceste FBiH head Adnan Terzic, Photo: Autoceste FBiH

SARAJEVO (Bosnia and Herzegovina), November 13 (SeeNews) - Bosnian motorways operator Autoceste FBiH has secured new investments worth 1.68 billion euro ($1.85 billion) to finance the planned construction of 123.8 kilometres of motorways, the head of the company, Adnan Terzic, said.

At present, Autoceste FBiH has nine active construction sites related to the works on 40 kilometres of motorways on a Corridor Vc section, Terzic said in a statement published on the company's website on Tuesday.

The total value of ongoing works is 477 million euro, he said.

Next year, the company hopes to see the completion of works on the 5.8 km Klopce-Donja Gracanica section, the 2.3 km Drivusa-Klopce section and the 7.2 km Buna-Pocitelj section.

However, a total of 635 million marka ($358 million/325 million euro) worth of financing approved for the construction of 35 kilometres of new motorways has been blocked at present since it lacks ratification from Bosnia's state-level parliament.

The work of the parliament has been blocked by the failure of the Bosnian authorities to form a state-level government and institutions for more than a year following the October 2018 general elections in the country.

Terzic said that in order to avoid the delay of works on the still not ratified by the parliament projects, Autoceste FBiH has agreed with local banks to finance all ongoing works from own sources until the ratification is completed and the funds become available on its accounts.   

Corridor Vc has a total length of 700 km and connects the port of Ploce in Croatia with Budapest in Hungary via Bosnia. Its length in Bosnia is some 340 km.

(1 euro = 1.95583 marka)