China's Exim Bank grants USD 334 million loan for Corridor XI

(Velimir Ilic)

The Export-Import Bank of China granted a loan of USD 334 million to Serbia on Friday for building two sections of the highway across western Serbia from Obrenovac to Ub and from Lajkovac to Ljig, Minister of Construction Velimir Ilic told Tanjug news agency.

- I visited China recently, and today we received the news that the Exim Bank of China accepted the contract we signed, so works will begin soon, by September at the latest - Ilic said.

All the work will be carried out by the Shandong Hi-Speed Group.

The Chinese have also sent a request for constructing another two sections of that highway, from Belgrade to Obrenovac, with the Bridge over the Sava River and a huge interchange near Belgrade, and a stretch from Preljina to Pozega, which will be one of the toughest sections of the future highway from Belgrade to the border with Montenegro.

- We have several offers for that, so we will call for bids when the government approves the contract on concession for these sections - the minister said.

The Serbian government has already delivered a decision on the construction of parts of the highway through concessions. The minister said that there are some announcements that Chinese companies will submit their offers.

Ilic said that the planned concesssions are worth around USD 600 million in total.