Corridor 10 construction to help Serbia exit recession.

By bne IntelliNews February 12, 2010
The works on the construction of transport Corridor 10 can help Serbia to emerge from recession more quickly, infrastructure minister Milutin Mrkonjic has stated. In an interview with Ekonomist magazine, Mrkonjic said that local companies will be engaged in the construction of the northern section of the Corridor 10 route, 110 km long. The minister also said that the construction works estimated at EUR 110mn would be financed from the budget. These works are due to be completed by May, 2011. According to the minister, construction works estimated at EUR 400mn will get off ground by May, this year. These include building of a bypass around the capital city of Belgrade , part of the highway near the town of Pirot in southern Serbia and two more road sections in the southern part of the country. We recall that Serbia s GDP growth is projected at 1.5% this year and is expected to be boosted by large scale infrastructure projects for which the country has already secured financing from international financial institutions.

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