Croatia to guarantee Konstruktors motorway project in Montenegro.

By bne IntelliNews January 25, 2010
Croatias government established a special guarantee fund, which will provide guarantees to the Konstruktor-led consortium for the construction works on the Bar-Boljare highway in Montenegro , finance minister Ivan Suker announced. This way the problem of the Croatian consortium will be solved and it can proceed with the construction of the highway. We note that Suker stated last week that the government would not provide state guarantees for the project, but would try to support the local consortium indirectly by consulting with the local banks on the ways out of the crisis. The Montenegrin government prolonged the initially negotiated deadline for signature of the financial contract with Konstruktor-led consortium by 2 months, but it decided in the meantime to launch preliminary talks with the second-ranked bidder, the consortium of Greek Aktor and Israeli Housing and Construction Holding.

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