December 15 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said Serbian state-run company Koridori Srbije plans to use the proceeds of a loan from the bank to tender the construction and rehabilitation of road sections in the first half of 2018.
The company plans to invest 50 million euro ($58.9 million) in the rehabilitation of sections of Highway E75, improvement of Batajnica Interchange, construction of Interchange Gramadja, design and construction of a Regional Control Centre, construction and rehabilitation of sections of connecting to the Corridor X Nis – Dimitrovgrad, and consultancy services, the EBRD said in a statement on Thursday.
With the project, Koridori Srbije intends to facilitate sustainable economic development and ensure that the country capitalises on its geographical position to continue its development as a key transit country on the Trans-European Network as well as to increase transport efficiency and improve traffic safety, the EBRD said.
Corridor X will connect Salzburg in Austria to the Greek port of Thessaloniki, passing through Slovenia, Croatia, Serbia and Macedonia. In Serbia, the project includes the construction of Belgrade bypass motorway, as well as two separate sections, linking Nis to Levosoje, near the Macedonian border, and to the border with Bulgaria.