spot_img
Monday, April 22, 2024
Partnered withspot_img

Montenegro accelerates highway development: Construction of Mateševo-Andrijevica section to Commence in September

Supported byOwner's Engineer banner

Construction on the second section of the highway from Mateševo to Andrijevica is expected to commence in September, announced Miroslav Mašić, the Acting Director-General of the Directorate for State Roads in the Ministry of Transport and Maritime Affairs. The necessary tender documentation will be prepared, land expropriation will be completed, and a contractor will be selected by then.

The estimated cost of construction is currently 600 million euros, with the final amount to be determined upon receipt of bids from interested global companies. Mašić mentioned the possibility of financing the project through EU grants, although the current plan is to utilize the budget and potential loans. The tender documentation for the second section is set to be completed by the end of the month, paving the way for the public call for contractor selection. Mašić emphasized the importance of concluding these procedures by September to adhere to the timeline for the commencement of construction.

Supported by

The Commission of the Directorate for Real Estate estimated that 14 million euros would be required for land acquisition along the route. While challenges during expropriation are not anticipated due to the rural nature of the land, Mašić emphasized adherence to legal processes.

The financing plan involves utilizing the budget and potential loans, with the estimated cost currently at 600 million euros. However, Mašić stated that the exact amount would be determined post-bidding and contractor selection. Renowned global companies have shown interest in the project, and Mašić expressed hope for robust competition, ensuring transparency and high-quality offers. While some analysts suggested funding from commercial bank loans with a 6.5% interest rate, Mašić clarified that all mechanisms, including EU grants, would be explored for projects ready for candidacy. The aim is to submit applications for other highway sections and expressways via grants.

Supported by

Grant availability for this section may also be considered if EU procedures are expedited. Mašić confirmed that Montenegro has not forsaken EU grants, securing 112 million euros for railway reconstruction through this mechanism. Several applications are currently in the procedure pipeline, and Mašić expects a significant portion to be approved. He outlined the completion of roadworks on various projects by the end of the year and the initiation of new projects, including sections from Bijelo Polje to Dobrakovo, Sutomore to Bar Boulevard, and Tivat Boulevard.

Supported byElevatePR Digital

Related posts

error: Content is protected !!