Q:
A:
Agreement with Horgos-Pozega concessionaire expected
Belgrade,
26 December 2008
Serbian Minister for Infrastructure Milutin Mrkonjic said today that he is hopeful that an agreement will be reached between Serbia and the concessionaire for the construction of the Horgos-Pozega highway, and international arbitration will not be necessary.
In a statement to the Tanjug news agency Mrkonjic said that considering the fact that the concessionaire has already unilaterally terminated the contract and sought mediation, which is a preparation for arbitration, there still are two more months for negotiations.
If negotiations fail then we shall surely enter arbitration, stressed the Minister.
He said that arbitration would be the worst option because Serbia needs financial backing from international and European banks for major road and rail infrastructure projects and disputes with European firms are undesirable.
The Minister said that Serbia has already started building the highway and the first 20 kilometers should be constructed with the country’s own funds, in the meanwhile efforts are being made to acquire loans.
He said that agreement has been reached that the firm CPV from Novi Sad, which was also chosen by Alpina to work on the project, should complete project documentation by March 1.
Mrkonjic said that he expects that all preparations will be completed by the beginning of March, adding that land has already been secured for building the section from Novi Sad to Zmajevo.
If negotiations fail then we shall surely enter arbitration, stressed the Minister.
He said that arbitration would be the worst option because Serbia needs financial backing from international and European banks for major road and rail infrastructure projects and disputes with European firms are undesirable.
The Minister said that Serbia has already started building the highway and the first 20 kilometers should be constructed with the country’s own funds, in the meanwhile efforts are being made to acquire loans.
He said that agreement has been reached that the firm CPV from Novi Sad, which was also chosen by Alpina to work on the project, should complete project documentation by March 1.
Mrkonjic said that he expects that all preparations will be completed by the beginning of March, adding that land has already been secured for building the section from Novi Sad to Zmajevo.
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