Azeri firm to head road construction in Serbia
Azerbaijani company AZVIRT has been selected as the general contractor for road construction between Serbia and Montenegro, Azerbaijan’s Economic Development Ministry said Friday.
Serbian Foreign Minister Vuk Jeremic and Azerbaijani Economic Development Minister Shahin Mustafayev signed an agreement on the allocation of an Azerbaijani loan to complete a section of the so-called "Corridor 11" on Thursday. The loan is planned to finance the construction of the road section from Ljig to Preljina in central Serbia.
The project includes the construction of 60 bridges, five tunnels and significant investments in Serbia's infrastructure.
Azerbaijan has allocated a loan worth 300 million euros for the construction operations. The funds were provided for 15 years with a three-year grace period at an annual rate of four percent.
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