Government of Serbia ordered the bank to collect 10m EUR from concessionaire “Alpine-Porr” for guarantee for construction of Horgoš-Požega highway

Government of Serbia has announced today (February 2, 2009) that it gave the order to the bank to collect 10m EUR from concessionaire “Sever-jug autoput”, which was founded by Austrian companies “Alpine” and “Porr”, for the guarantee for construction of Horgoš-Požega highway.

According to the announcement, the Government gave the order for payment of 10m EUR on Friday, January 30, because concessionaire "Sever-jug autoput" did not meet the obligations from the Contract on concession.

The concessionaires did not manage to complete financial structure prior to December 31, 2008. If they did, they would make it possible for the Contract on concession to be put in effect and for the works on construction of Horgoš-Požega highway to commence.

According to the announcement, the Government of Serbia is still willing to purchase all the necessary documentation from the concessionaires, in as short time as possible, in order to accelerate works on that section of “Corridor 10”.

Vlada Republike Srbije

ALPINE Bau GmbH Wals bei Salzburg

PORR AG Wien

SEVER-JUG AUTOPUT DOO BEOGRAD

Government of Serbia

Horgoš Požega highway

Sever jug autoput

Alpine

Porr

Corridor 10