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BANJA LUKA (Bosnia and Herzegovina), October 1 (SeeNews) – Bosnia's Serb Republic entity said on Monday it approved a contract with Chinese company Shandong International Economic & Technical Cooperation Group for the construction of the Banja Luka-Prijedor motorway section.
The Serb Republic's government also approved a concession contract with the Chinese company for the operation of the Banja Luka - Prijedor - Novi Grad motorway, it said in a statement.
The concession contract will have a duration 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 ($5.173 million).
The Banja Luka - Prijedor highway will be about 42 km-long and will include seven tunnels and 35 bridges plus infrastructure for toll collection system with three stations, as well as a system for traffic safety management and control.
In November, Autoputevi RS, the state-owned motorway operator of the Serb Republic, said it has signed a cooperation agreement with China Shandong International Economic & Technical Cooperation group towards the construction of the Banja Luka-Prijedor-Novi Grad motorway, of which Banja Luka-Prijedor is the first phase.
Shandong International Economic & Technical Cooperation Group is a subsidiary of Shandong Hi-Speed Group (SDHS), which constructed two sections of Corridor XI in Serbia.
The Serb Republic is one of the two autonomous entities forming Bosnia and Herzegovina. The other is the Federation.
($ = 0.863572 euro)