RS and Chinese Company signed an Agreement worth 297 Million Euros

December 16, 2018 9:00 AM

Republika Srpska has announced that it has signed a concession contract with Chinese company China Shandong International Economic and Technical Cooperation Group (CSI) for the construction and operation of the first section of a motorway that will connect Banja Luka with Prijedor and Novi Grad.

The concession on the first section, which totals 42 kilometers in length and connects Banja Luka to Prijedor, will be granted for a period of 33 years, including a three-year period for construction work.

When it comes to work, China Shandong International Economic and Technical Cooperation Group will design, finance, build, manage and maintain the Banja Luka-Prijedor motorway section.

During the period of operating the motorway, it will pay an annual fee of 32.5 million euros to the Republika Srpska government.

Investment in the motorway is expected to total 297 million euros, Emerging Europe reports.

Earlier in 2015, the Chinese company expressed its interest in the conclusion of commercial contract for the project of improvement, rehabilitation and construction of the railway Banja Luka-Novi Grad / Bosanski Novi – Dobrljin, for construction of highway Banja Luka – Prijedor – Novi Grad / Bosanski Novi, and the first phase of Banja Luka to Prijedor, as well as reviewed cooperation on the project of renovation and construction of the Banja Luka airport.

By far, SDHS has the registered capital of 20 billion RMB, annual operation revenue of 70 billion RMB, total profit of 7 billion RMB, total assets of nearly 600 billion RMB and a debt ratio of 61%, and the total number of staff is over 70,000. Its asset value ranks first among all Shandong Province-run enterprises and all Chinese enterprises of the same industry and the total amount of assets and profit are 1/4 of Province-run enterprises.

(Photo: novosti)

 

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