Serbian government to take out a 431-million-euro loan from JP Morgan to complete Morava Corridor

Members of the Serbian parliament will soon approve the Serbian government borrowing of EUR 431.6 million euro which will be used to pay a part of the financial obligations toward the Bechtel-Enka consortium, the contractor on the Morava Corridor project.

The loan is approved by JPMorgan Chase Bank, for a period of 13 years, with an annual interest rate of 0.5%, augmented by a six-month EURIBOR.

The plan is for Pojate and Preljina to connect via 112.37 kilometres of a motorway by 2024.

PE Corridors of Serbia (Koridori Srbije), the purchaser under the loan agreement, notes that, in the past six months, the works on the Morava Corridor have picked up the pace and that they are now progressing in line with the schedule.

“The construction of the Section One, from Pojate to Krusevac, is currently carried out, on a total of 53 points. On the first section, the workers are currently building nine bridges and overpasses and six culverts, as well as the moving of the current utility infrastructure. On the Section Three, the Adrani-Mrcajevci subsection, the works on the construction of the bridge have started, whereas, on subsection Mrcajevci-Preljina, the works are expected to begin in August 2021,” PE Corridors of Serbia announces.

The question of ownership over land plots is solved along the entire route of the future corridor. The process of land expropriation for all three sections and for the regulation of the West Morava is completed.

“Through the partnership with the National Employment Service, the Bechtel-Enka consortium is striving to employ local workers as much as possible. Of the total of 1,600 workers on this project, 1,100 are from Serbia. Of the total number of subcontractors, 90.5% are local companies,” PE Corridors of Serbia says.

(Vecernje Novosti, 22.06.2021)

https://www.novosti.rs/vesti/ekonomija/1009354/nice-deset-novih-mostova-srbija-zaduzuje-431-6-miliona-evra-sto-pokriva-deo-gradnje-moravskog-koridora

 

This post is also available in: Italiano

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