Memorandum of Cooperation for construction of Adriatic-Ionian motorway signed in Beijing

    Beijing, China (26 November 2015) – Minister of Transport and Maritime Affairs Ivan Brajović signed earlier today a Memorandum of Cooperation between the Ministry of Transport and Maritime Affairs of Montenegro, the Ministry of Transportation and Infrastructure of Albania and Chinese company Pacific Construction Group Corporation Limited (CPCG) on the construction of Adriatic-Ionian motorway following the model of private-public partnership.

    The establishment of mechanisms for developing cooperation between Montenegro, Albania and CPCG Company are prescribed within the Memorandum along with the activities aimed at implementing this project in Montenegro and Albania.

    Memorandum covers the period of 18 months, with a possibility for extension in accordance with the signatory parties’ interests.

    Chinese Company CPCG was founded in 1995 and it represents one of the largest private companies in the People’s Republic of China. The company is focused on the project planning and construction of infrastructure, particularly the transport infrastructure (motorways, tunnels, ports, etc.).

    The signing of the Memorandum was attended by the Prime Minister of Albania Edi Rama, Montenegrin Minister of Tourism and Sustainable Development Branimir Gvozdenović, and Montenegro’s National Coordinator for Cooperation with the People’s Republic of China Goran Jovetić.

    Source: Government of Montenegro