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BELGRADE (Serbia), September 19 (SeeNews) - Serbia has signed an agreement for the financing of the completion of the construction works of the Belgrade bypass road with the Chinese government, the Serbian infrastructure ministry said.
Under the agreement, Serbia will receive a 207 million euro ($242.2 million) loan from China and will complete the construction of the Belgrade bypass road in 2021, the infrastructure ministry said in a statement on Tuesday.
"The fact that the works began several months before the signing of the financing agreement proves the significance of the project for the Serbian government, as well as the commitment of the contractor and subcontractor to the realisation of the project," infrastructure minister Zorana Mihajlovic said.
The financing agreement refers to works on the construction of a 20.4 km-long section of the bypass road, linking the Ostruznica bridge on Sava river to Bubanj Potok. The main contractor is China's Power Construction Corporation (Powerchina) and Azeri civil engineering company Azvirt.
Powerchina and Azvirt started works on the construction of the Ostruznica-Bubanj Potok stretch of the Belgrade bypass road in July.
The Belgrade bypass, which is set to connect pan-European corridors X and XI, will enhance road safety, reduce congestion in the centre of Serbia's capital and cut emissions and noise in the city, the infrastructure ministry said in January.
($ = 0.8545 euro)