In Montenegro highway construction costs reach EUR105m in Jan-Sep

The amount paid for the construction of the first section of the Bar-Boljare highway in Jan-Sep stood at EUR105m, Finance Ministry sources told the daily Dnevne Novine. Some EUR89.3m from the total amount paid to the highway developer China Road and Bridge Corporation (CRBC) came from China Exim Bank loans. Some EUR15.7m came directly from state budget funds. Construction costs since were the highest in March, when they amounted to EUR17.4m. We note that the 41-km Smokovac-Matesevo first section is considered the largest and the most challenging from the 169.2km-long highway and includes 17km of tunnels and 3km of bridges. The whole construction costs for this section are estimated at EUR809.6m. The section is scheduled for completion in May 2019.

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