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Deputy Prime Minister Labus calls for setting up a consortium to build Nis-Bulgarian border motorway

Belgrade / Sofia, 2 November 2004

Serbian Deputy Prime Minister Miroljub Labus said that the construction of a motorway, linking Nis and the Bulgarian border, calls for the setting up of an international consortium that would be capable of securing such a significant investment.

Miroljub Labus

Attending the plenary session of the 6th Economic Forum of South Eastern Europe in Sofia today, Labus explained that a more ambitious plan calls for a €500 million investment for the motorway project, while a less ambitious plan is estimated at nearly €310 million.

The Deputy Prime Minister also called for attracting serious private investors and initiating talks as part of the Stability Pact for South Eastern Europe in order to improve the rating of the Nis-Bulgarian border motorway.

International financial institutions are ready to partly finance the construction of an 82-kilometre section of the motorway, he went on to say, adding that the Serbian government is due to approve a concession act.

Labus presented other projects in Serbia as well, including a €500 million project for the construction of a Belgrade-Adriatic coast road and the Constanta-Pancevo-Omisalj-Trieste oil pipeline.

He also noted that Serbia has reduced the level of corruption and strengthened legislation as part of an attempt to improve the investment climate, adding that the country offers concession opportunities in mineral ore exploitation, irrigation systems and electricity supply.