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BANJA LUKA (Bosnia and Herzegovina), December 28 (SeeNews) - U.S.-based international law firm Hunton Andrews Kurth will be the lead transaction counsel to Bosnia's Serb Republic government in the development of the 297 million euro ($339.8 million) Banja Luka - Prijedor motorway project, the company said on Thursday.
Hunton Andrews Kurth is experienced when it comes to contractual arrangements for public-private partnership (PPP) projects. The firm has represented project lenders, sponsors, developers, investors, and governments throughout Asia, Africa, Latin America, Europe and the U.S. on PPP transactions for over 20 years.
The 42 kilometre long Banja Luka - Prijedor motorway is a PPP between China's Shandong International Economic and Technical Cooperation Group and the Serb Republic, which represents the first section of the planned Banja Luka - Prijedor - Novi Grad motorway.
On December 13, the Serb Republic signed a concession contract with the Chinese investor for the construction and operation of the Banja Luka - Prijedor motorway.
In October, the Serb Republic signed a contract with Shandong for the construction and operation of the Banja Luka - Prijedor - Novi Grad motorway, opening the way for the Chinese company to pay the one-off fee of 4.467 million euro for the concession.
The Serb Republic is one of the two autonomous entities forming Bosnia and Herzegovina. The other is the Federation.