Almost 407 Million Euro Paid to Chinese for Highway

By , 09 Jul 2018, 21:20 PM Business
Illustration Illustration Dnevne novine

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July 9, 2018 - The China Road and Bridge Corporation (CRBC) Company has been paid 406,708,799.71 euro since 2015, when construction of Bar-Boljare highway started, until June 21 this year, said the Ministry of Finance. 

Out of this amount, the Chinese, as the main contractor of the works on the priority route Smokovac-Uvač-Mateševo, 345,702,732.98 euros was allocated from the funds of the Chinese Exim bank. For the same period, the CRBC received €61.006.066,74 from the budget, adding that the above funds relate to the cost of the credit loan.

Since the beginning of the year until June 21st, CRBC has generated 59,185,883.02 euro for the highway construction. From the funds of the Chinese Exim Bank, 50,308,253.80 euro were paid, while 8,877,629.22 euro were allocated from the budget funds.

The dynamics of withdrawing funds from the budget depends on the realization of the activities being carried out on the site. At the end of the year, they will determine whether the total withdrawn funds follow the Law on the Budget for this year," highlighted the Ministry.

Text by Dnevne novine, on July 9th, 2018, read more at CdM

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