The government paid 80 million for highway

The Government of Montenegro paid an advance payment amounting 80.95 million Euros to Chinese CRBC, the contractor that is to start construction works on the priority section of the highway Smokovac-Matesevo. According to previously made agreement, the government will pay up the same amount as the advance until the end of March.

The information adopted at the last session, recalls that on February 6, a letter of acceptance of the offer pursuant to the concluded contract on design and construction has been sent to the contractor, and on February 16, CRBC has submitted contract defined guarantees: the guarantee of the parent company, guarantee of performance and guarantees for advance payment, reports ‘’Portal Analitika’’.

“This has created the preconditions for the payment of the first installment of the advance payment and the first installment of advance payment in the amount of 10 per cent of the agreed price for the design and construction, that is 80, 95 million euros, should be paid before 08 March 2015, and by the end of March 2015 should be paid the second installment of the advance payment amounting 10 per cent of the agreed price for the design and construction”, the document says, according to ‘’Portal Analitika’’.

Capital budget for 2015 provided 206 million Euros for highway Bar-Boljare. This projection was made based on the fact that the investor (the Government) has to pay 161.15 million Euros for two contract defined installments of the advance.

Preliminary work on the highway is expected to begin in April.

Izvor: RTV Montenegro