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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.