Serbia to terminate agreement with Austria's Alpine

Serbia is going to terminate an agreement signed with Austria's Alpine Bau that has been hired to build a stretch of the eastern branch of Corridor X, Novosti reports. The Koridori Srbija company has received an official notice from Alpine notifying them that it has gone bankrupt and got a bankruptcy manager. According to Novosti, this position has been assumed by lawyer Stephan Rill.

Based on Alpine's official notice and international agreements, requirements are met for Koridori Srbije to initiate a procedure for unilateral termination of the agreement. This has also been recommended by the project supervisor - Eptisa. Koridori Srbije still needs to get the green light from lawyers, the World Bank, the European Investment Bank, and the Serbian government.