Reducing highway construction costs

The transport authorities in Montenegro are still considering ways to reduce the construction costs of the Bar-Boljare highway.

Croatian company 1567 Konstruktor is still keen to work on the highway project, which it priced at €2.7 billion. The Montenegro government cancelled Konstruktor’s concession agreement for the project recently.

The Israeli-Greek consortium comprising 1570 Aktor, Shikun and Binui-HCH was the second ranked bidder for the project and is in talks with the Montenegro government at present over the highway. The consortium priced the project at €3.92 billion and the Montenegro Government is discussing ways to reduce the cost of the work.

The consortium has said that it should be able to
find guarantees from the 1166 European Bank for Reconstruction and Development (EBRD) and the 1054 European Investment Bank (EIB) for the project.