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Government launches procedure to collect guarantee for Horgos-Pozega motorway
Belgrade,
2 February 2009
The Serbian government launched a procedure on January 30 to collect the guarantee in the amount of €10 million that concessionaire company Sever-Jug Autoput pledged in the case the terms of the concession contract for the Horgos-Pozega motorway are not fulfilled.
The government instructed the bank where the money is held to pay the said amount to the account of the Serbian government.
Sever-Jug Autoput failed to close the financial construction for the motorway by December 31.
The government still remains ready to purchase all necessary documentation from the concessionaire in order to speed up the works on that section of Corridor 10.
Sever-Jug Autoput failed to close the financial construction for the motorway by December 31.
The government still remains ready to purchase all necessary documentation from the concessionaire in order to speed up the works on that section of Corridor 10.
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