Seven Montenegrin companies to participate in construction of key section of Bar-Boljare motorway

By bne IntelliNews July 14, 2015

Seven Montenegrin companies will participate as subcontractors in the construction of the first priority section of the Bar-Boljare motorway from Smokovac to Matesevo, broadcaster RTCG reported.

The section will be built by China’s CRBC, which launched construction works in May. The 44-km stretch, which should be completed within 48 months.

According to RTCG’s report, the contract between Montenegrin government and CRBC requires that the Chinese company assigns at least 30% of the work to local companies.

The 169-km Bar-Boljare road project is significant in comparison with the size of Montenegro's economy and is expected to boost its growth in 2015. The European Commission has forecasted that the country’s economy will grow by 3% this year, speeding up from an estimated 2% in 2014 thanks to expected intensified works on two large tourism resorts (Porto Novi and Lustica), and the launch of the first section of the key Bar-Boljare motorway. The International Monetary Fund also expects the economy to recover this year and accelerate to 4.7% in 2015.

Related Articles

Montenegro to speed up re-nationalisation of power firm EPCG

Montenegro’s government has decided to speed up the acquisition of Italian A2A's stake in the power firm EPCG, paying €68.9mn for a ... more

EU slams Montenegro’s lack of progress in fight against corruption

The European Commission slammed Montenegro for its lack of progress in fight against organised crime in its progress report released on April 17, and said that the country ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Dismiss