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.
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