Preliminary Corridor XI deal with China signed

The Ministry of Construction and Urbanism on Thursday signed a preliminary deal for the construction of a USD 333 million stretch of the Corridor XI highway.

Izvor: Tanjug

Thursday, 27.12.2012.

14:06

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BELGRADE The Ministry of Construction and Urbanism on Thursday signed a preliminary deal for the construction of a USD 333 million stretch of the Corridor XI highway. It will be built through central Serbia - from Obrenovac to Ub, and from Lajkovac to Ljig. Preliminary Corridor XI deal with China signed The contract has been signed with representatives of China's Shandong Hi-speed Group, the ministry said in a release. The deal was signed by Minister Velimir Ilic, director of Koridori Srbije Dmitar Djurovic, and representative of the Chinese company Liu Zhicheng. Ilic said the final contract would be signed soon and works could begin as early as March. Noting that the two sections, whose length totals around 50 kilometers, will be financed using an already approved Chinese loan with a 2.5 percent interest rate, Ilic added that the final cost would not deviate from the projection by more than ten percent. The Chinese company will take on 51 percent of the project, while Serbian partners will be responsible for the remaining 49 percent, with 70 percent of the total manpower engaged on the construction coming from Serbia, said Ilic, explaining that the Chinese company would also employ some people in Serbia. Ilic said site preparation would take three months and the deadline for the completion of these two legs was 38 months. Funds have already been allocated for the section from Obrenovac to Preljine, near Cacak, while the section from Belgrade to Obrenovac will be built in a public-private partnership, said the minister. Ilic said the investment was very important and the deal with the Chinese company was facilitated by the Chinese Embassy in Belgrade, the Serbian government and the president's office. Chinese Ambassador to Serbia Zhang Wanxue said the relations between Serbia and China had been very good for the past two years and the new government and Minister Ilic had further improved the cooperation. (Tanjug) Tanjug

Preliminary Corridor XI deal with China signed

The contract has been signed with representatives of China's Shandong Hi-speed Group, the ministry said in a release.

The deal was signed by Minister Velimir Ilić, director of Koridori Srbije Dmitar Đurović, and representative of the Chinese company Liu Zhicheng.

Ilić said the final contract would be signed soon and works could begin as early as March.

Noting that the two sections, whose length totals around 50 kilometers, will be financed using an already approved Chinese loan with a 2.5 percent interest rate, Ilić added that the final cost would not deviate from the projection by more than ten percent.

The Chinese company will take on 51 percent of the project, while Serbian partners will be responsible for the remaining 49 percent, with 70 percent of the total manpower engaged on the construction coming from Serbia, said Ilić, explaining that the Chinese company would also employ some people in Serbia.

Ilić said site preparation would take three months and the deadline for the completion of these two legs was 38 months.

Funds have already been allocated for the section from Obrenovac to Preljine, near Čačak, while the section from Belgrade to Obrenovac will be built in a public-private partnership, said the minister.

Ilić said the investment was very important and the deal with the Chinese company was facilitated by the Chinese Embassy in Belgrade, the Serbian government and the president's office.

Chinese Ambassador to Serbia Zhang Wanxue said the relations between Serbia and China had been very good for the past two years and the new government and Minister Ilić had further improved the cooperation.

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