Serbia hires Azerbaijan's AzVirt to build EUR 308mn motorway section.

By bne IntelliNews April 10, 2012
Serbian motorway operator Koridori Srbije has contracted Azerbaijani firm AzVirt to build a Corridor 11 motorway section worth EUR 308mn, news agency Tanjug reported. The deal was signed during the weekened by the head of Koridori Srbije, Mihailo Misic, and Azvirt's director Kamil Aliyev. The signing of the contract took place shortly after the Azerbaijani parliament approved a EUR 308mn loan to Serbia for the construction of the Ljig-Preljina section. The loan is extended for a period of 25 years, Tanjug reported. Aliyev was quoted as saying that the labour force, the construction materials and the equipment needed for the job will originate mainly from Serbia. Corridor 11 links Serbia's capital Belgrade with Montenegro's Adriatic port of Bar. Its total length is 445 kilometres.

Related Articles

Serbia's external debt up 4.7% y/y to EUR 25.4bn at end-Feb 2013.

Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more

Vip Mobile Serbia signs five-year managed services deal with Ericsson.

Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more

Telenor and Societe General possible buyers of Serbia's KBC Banka - report.

Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss