Montenegro suggested termination of contract with Konstruktor - no banking guarantee for construction of Bar-Boljari highway

The Montenegrin Council for Highway Construction suggested yesterday (March 2, 2010) that the Government should terminate the contract on concession for construction of Bar-Boljari highway with the Croatian consortium led by Split-based Konstruktor.

After the meeting of the Council, the Minister of Maritime Affairs and Transportation, Andrija Lompar, said that Croatian Konstruktor had not submitted the required banking guarantee, so that it was suggested that the negotiations should be resumed with the second-ranked bidder on the tender - Greek-Israeli consortium Aktor -HCH.

The Government will make the final decision at the meeting on Thursday, March 4th.

The Croatian consortium offered to build the highway section 170 km long for 2.7bn EUR, while Greeks and the Israeli offer the price of 3.9bn EUR.

The preparation works for construction of the highway were made official on October 15th, in the presence of the prime ministers of Montenegro, Croatia and Serbia, Milo Đukanović, Jadranka Kosor and Mirko Cvetković, respectively.