Serbia cancels Corridor 10 contracts with bankrupt Austrian road builder Alpine Bau

By bne IntelliNews August 6, 2013

Serb motorway operator Koridori Srbije informed Austrian road builder Apline Bau on Tuesday, August 6, it has cancelled all four contracts for the construction of sections on the Pirot-Dimitrovgrad motorway and the Dimitrovgrad bypass, news agency Beta reported.

“With this notification the contract is considered cancelled,” the head of Koridori Srbije, Dmitar Djurovic, told a news conference.

Djurovic said that all conditions for cancelling the deal have been met and all parties involved have been consulted on the matter. The cancelation, announced in early July – after Alpine entered insolvency in June, was awaiting the opinion of the lawyer from Vienna, of Alpine’s bankruptcy receiver, as well as the consent of the World Bank and the EBRD – as project financiers.

Koridori Srbije is expected to call a new tender for completing the construction of the 15-km Pirot-Dimitrovgrad section (in the southeast – to the border with Bulgaria).

Alpine signed the contract for two sections on the Pan-European Corridor 10 worth EUR 30mn with Serbia in April 2010, expecting to wrap up construction works within two years. The deal also included the 5.8-km Dimitrovgrad city bypass and the 8.6-km section to the Bulgarian border.

Related Articles

Balkan baker Don Don to continue regional expansion with new Serbian facility

Don Don, a regional bakery group founded in Slovenia but active throughout the Western Balkans, will open a new production facility in the eastern Serbian town of Zajecar in spring 2018, Ales ... more

Serbia’s central bank cuts policy rate for first time since July 2016

Serbia’s central bank decided to cut the monetary policy interest rate by 25bps to 3.75% at its monetary policy board meeting on September 7. The policy rate has been held constant at 4% since July ... more

Footballer's Bentley rams Serbian president's motorcade

An investigation is ongoing after a Bentley car hit Serbian President Aleksandar Vucic's motorcade on September 2, Deputy Prime Minister and Minister of Interior Affairs Nebojsa Stefanovic told ... more