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Serbia signs coop pact with JV co G.I.D.C. on Pozega-Boljare motorway project

Serbia signs coop pact with JV co G.I.D.C. on Pozega-Boljare motorway project

BELGRADE (Serbia), January 23 (SeeNews) - Serbian construction minister Velimir Ilic signed on Thursday a memorandum of cooperation with local company G.I.D.C., which will finance with 20 million euro ($27.3 million) the preparation of the technical documentation for the construction of the Pozega-border with Montenegro section of pan-European transport Corridor XI, the government in Belgrade said.

G.I.D.C., a joint venture company set up by United Arab Emirates-based Global Capital Advisors Management and the Serbian government, will complete the study on the construction of the motorway section and propose a public-private partnership model for its concession, the government said in a statement.

The UAE partners are interested in the construction of this highway section as well as that of the Pojate-Preljina motorway, Ilic said.

Under the signed memorandum, G.I.D.C. will finance the investment and technical documentation, which will determine the spatial, environmental, social, financial and economic feasibility of the investment for the construction of the 106.8 kilomtere Pozega-Boljare section of the motorway.

Corridor XI links Serbia’s northeastern border with Romania with the southwestern border with Montenegro.

($=0.7334 euro)

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