Corridors of Serbia terminated contract with Alpina

BELGRADE - Serbian Corridors sent today a notice to Alpine Bau Gmbh on the termination of the contract on all four sections. The Director of the Corridor Dimitar Djurovic said at the press conference that by this announcement the contracts shall be deemed terminated. Corridors of Serbia terminated contract with Alpina Corridors as of today start the procedure for collecting bank guarantees for the job in the amount of 5.14 million and bank guarantees for advance repayment in the amount of 2.73 million euros, said Djurovic. In addition, he said, the company has maintained a deposit for defects during the warranty period in the amount of 2.96 million EUR. Alpine total debt to domestic companies amounted to EUR 420 million. Corridors will within the next 45 days take all necessary actions so as to launch a tender for the completion of the sections, and the process, as Djurovic says, will last between six and nine months, so the beginning of work can be expected to correspond to the beginning of the construction season, sothat the section could be completed by mid-2016. Tanjug Tanjug

Corridors of Serbia terminated contract with Alpina

Corridors as of today start the procedure for collecting bank guarantees for the job in the amount of 5.14 million and bank guarantees for advance repayment in the amount of 2.73 million euros, said Djurovic. In addition, he said, the company has maintained a deposit for defects during the warranty period in the amount of 2.96 million EUR. Alpine total debt to domestic companies amounted to EUR 420 million.

Corridors will within the next 45 days take all necessary actions so as to launch a tender for the completion of the sections, and the process, as Djurovic says, will last between six and nine months, so the beginning of work can be expected to correspond to the beginning of the construction season, sothat the section could be completed by mid-2016.