Govt. launches procedure to collect guarantee

The government has launched a procedure to collect the Horgos-Pozega highway guarantee in the amount of EUR 10mn. Concessionaires Alpine-Porr company Sever-Jug Autoput pledged the money in case the terms of the concession contract for the highway are not fulfilled, the government said in a statement on Monday. Govt. launches procedure to collect guarantee The government launched the procedure on Friday, January 30, it was said in the statement. The bank where the money is held was instructed to transfer the said amount to the account of the Serbian government. Sever-Jug Autoput failed to close the financial construction for the highway by Dec. 31, 2008. The government still remains ready to purchase all necessary documentation from the concessionaires in order to speed up the works on that section of Corridor 10, the statement said.

Govt. launches procedure to collect guarantee

The government launched the procedure on Friday, January 30, it was said in the statement.

The bank where the money is held was instructed to transfer the said amount to the account of the Serbian government.

Sever-Jug Autoput failed to close the financial construction for the highway by Dec. 31, 2008.

The government still remains ready to purchase all necessary documentation from the concessionaires in order to speed up the works on that section of Corridor 10, the statement said.