December 24 (SeeNews) - North Macedonia's government said it is reallocating funding planned for the now abandoned project for construction of a cargo airport in Stip to other infrastructure projects of public interest.
The government adopted an annex to the concession agreement with TAV Macedonia, the local unit of Turkey's TAV Airports Holding, to repurpose the funds to 99 infrastructure projects in 75 municipalities, as well as to the capacity expansion of the international airports in Skopje and Ohrid, it said in a statement on Wednesday.
North Macedonia's government signed an agreement with TAV for the construction of a cargo airport in Stip in 2008 but abandoned the project as economically unjustified earlier this year. The agreement also includes a 20-year concession on the airports in Skopje and in Ohrid.
The government did not disclose the sum that will be reallocated but economy minister Kreshnik Bekteshi said in September the annex concerns a sum of 49.7 million euro ($60.7 million).
(1 euro = 0.8192 denars)