November 12 (SeeNews) - The government of Bosnia's Federation entity said it has signed a 67.4 million euro ($75.9 million) contract for the construction of a section of the pan-European Corridor Vc with Turkish company Cengiz Insaat.
The Turkish company will build a 4 km-long section linking Donja Gracanica to the Zenica tunnel, Bosnia's Federation government said in a statement last week.
The contractor will have 30 months to complete the project.
The government will finance the project through a loan from the European Bank for Reconstruction and Development and a 11.03 million euro grant.
The project includes the construction of the Zenica North tollbooth as well as a link connecting the Vc corridor to the town of Zenica and the M-17 motorway.
"On this project, as we did earlier on the Vlakovo-Tarcin motorway section, we will employ domestic workers and companies, and the materials and services will be obtained from domestic sources, which will contribute to the development of trade activities in Bosnia and Herzegovina," the director of Cengiz Insaat, Evren Utku Gok, said in the statement.
Corridor Vc is the main international transport corridor in Bosnia and Herzegovina and its development is a strategic priority for the country. The road is part of the Western Balkans Core Network. It has been established as an extension of the Trans-European Transport Networks and will eventually link the Hungarian capital Budapest with the Croatian port of Ploce.
The Federation is one of two autonomous entities making up Bosnia and Herzegovina. The other one is the Serb Republic.
($ = 0.888548 euro)