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Serbia to borrow $523 mln for construction of Preljina-Pozega motorway

Author Radomir Ralev
Serbia to borrow $523 mln for construction of Preljina-Pozega motorway Source: China Global Television Network YouTube channel

BELGRADE (Serbia), March 29 (SeeNews) - Serbia's government plans to sign a $523 million (424 million euro) loan agreement to finance the construction of a 30.9 km-long motorway section, between Preljina and Pozega, infrastructure minister Zorana Mihajlovic said on Thursday.

The loan agreement will be signed in the coming months and the construction of the motorway section in central Serbia is expected to start in March 2019, Mihajlovic said in a statement issued by the government. 

The construction works of the Preljina-Pozega motorway will last for two years, Mihajlovic said.

The infrastructure ministry said in November it signed a 450 million euro ($537.6 million) agreement with China Communications Construction Company (CCCC) for the construction of the Preljina-Pozega section of the motorway that will link Belgrade to the border with Montenegro.

The motorway is part of pan-European Corridor XI, a ferry/motorway corridor linking Italy's Bari to Romania's Bucharest via Montenegro's Bar port and Serbia's Belgrade.

($ = 0.811145 euro)