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Nov 27, 2017 17:11 EEST
BANJA LUKA (Bosnia and Herzegovina), November 27 (SeeNews) – Autoputevi RS, the state-owned motorway operator of Bosnia's Serb Republic, said on Monday it has signed a cooperation agreement with China Shandong International Economic & Tehnical Cooperation Group towards the construction of the Banja Luka-Prijedor-Novi Grad motorway.
The deal was signed on the sidelines of a meeting of heads of government of China and 16 central and eastern European (CEE) countries, or the 16+1 Summit, held in Budapest, Hungary, Autoputevi RS said in a statement.
The signed deal sets out that the motorway will be built via a concession contract, whereby the Chinese partner will carry out and fund the works, and then charge a toll in order to recover its investment.
The financial planning for the project should be completed by mid-2018.
According to Bosnian media reports, the construction of the motorway is valued at an estimated 320 million euro ($382.4 million).
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other is the Federation.
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