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BANJA LUKA (Bosnia and Herzegovina), October 4 (SeeNews) – The government of Bosnia's Serb Republic said on Thursday it inked a contract with China Shandong International Economic & Technical Cooperation Group to build and run the Banja Luka - Prijedor - Novi Grad motorway.
The inking of the agreement opens the way for the Chinese company to pay the one-off fee for the concession, the Serb Republic government said in a statement.
The concession contract will be officially signed after the payment of the one-off fee.
Earlier this week, the Serb Republic government approved a contract with Shandong for the construction of the Banja Luka - Prijedor section and the operation of the Banja Luka - Prijedor - Novi Grad motorway. The concession contract will have a term of 33 years, including the period for the construction of the motorway. The Chinese company will pay an annual fee equal to 5% of the road toll revenue plus a one-off fee of 4.467 million euro ($5.142 million), the government said.
In November, Autoputevi RS, the state-owned motorway operator of the Serb Republic, announced the signing of a cooperation agreement with China Shandong International Economic & Technical Cooperation group for the construction of the Banja Luka-Prijedor-Novi Grad motorway, of which the section Banja Luka-Prijedor is the first phase.
The Serb Republic is one of the two autonomous entities forming Bosnia and Herzegovina. The other is the Federation.
($ = 0.868671 euro)