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PODGORICA (Montenegro), July 19 (SeeNews) – Montenegro's expenditures for the construction of the Smokovac-Matesevo section of the motorway linking the port of Bar to the Serbian border will stand at 895 million euro ($1 billion), transport minister Osman Nurkovic said on Friday.
The additional works on the section will cost about 85 million euro, which is 10% more than the initial estimates, Nurkovic said in a video file posted on the YouTube channel of Montenegro's parliament.
The government has signed three annexes to the agreement for the construction of the section with China Communications Construction Company (CCCC), refering to the construction of tollbooths, as well as the motorway's electrification and water supply, Nurkovic said in response to a question in parliament.
On Thursday, Montenegro's finance minister Darko Radunovic said the government plans to repay in July 2021 the first tranche of a loan from the Export-Import Bank of China (EXIM Bank) for the construction of the Bar-Boljare motorway. The first installment will amount to about $33.7 million, Radunovic said.
The construction of the motorway started in May 2015. The Smokovac-Matesevo section is considered a priority by the Montenegrin government, due to the complexity of the works, and is expected to be completed by the middle of 2020.
($ = 0.8897 euro)