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PODGORICA (Montenegro), November 26 (SeeNews) – Montenegro and Albania have signed a memorandum of understanding (MoU) with China's Pacific Construction Group Corporation Limited (CPCG) for the construction of the Adriatic-Ionian motorway under a public-private partnership arrangement, the Montenegrin government said on Thursday.
The MoU defines the establishment of a cooperation mechanism between Montenegro, Albania and CPCG, and the activities to be undertaken towards the realization of this project, the government said in a press release.
The MoU was signed for a period of 18 months but can be extended with the consent of the signatories.
The Adriatic-Ionian motorway, known as the Blue Corridor, is planned to stretch along the eastern shore of the Adriatic and Ionian seas, spanning the western coast of the Balkan peninsula.
Nov 26, 2015 17:22 CEST