China’s Pacific Construction Group has signed a deal worth $1.72bn for the construction of a highway between Albania and Montenegro, media in Tirana said.
On November 25, Albania and Montenegro signed a memorandum of understanding (Mou) with Pacific Construction Group that opens the way for the construction of the Blue Corridor motorway project that will stretch along the eastern shore of Adriatic and Ionian seas, from Trieste in Italy to Greece via Croatia, Montenegro and Albania. The signing took place during the visit of government delegations of both countries to China.
The construction of the 280-km motorway will begin in the second half of 2016 and will end in 2018, news agency ATA said on November 30, quoting China Pacific’s President Yan Jiehe as saying at a news conference in Beijing.
How the project will be funded has yet to be decided.
Yan Yiehe expressed an interest in his company’s engagement in important infrastructure and tourism projects in Albania, due to the country's favorable position in the region.
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