Government's officials discuss in China high-way project, cooperation in infrastructure, energy, real estates

Beijing, China (10 April 2013) – Montenegro’s Finance Minister Radoje Žugić and Minister of Transport and Maritime Affairs Ivan Brajović met yesterday with President of Exim Bank Li Ruogu to discuss the possibility of funding the Bar-Boljare high-way project, that is, its priority section from Podgorica to Mateševo, through the Exim Bank’s preferential loan. The loan should be provided within a loan line for countries of Central and South-Eastern Europe in the amount of $ 10 billion, announced by China’s ex Prime Minister Wen Jiabao at the Warsaw’s conference in April 2011.

Transport Minister Brajović said that importance and size of the high-way project reflect its historical importance for Montenegro. He acquainted Exim Bank’s President with the current status of negotiations with the partners (CCCC/CRBC, JV Bechtel-Enka, EIB, Dogus-Guslan), and underlined once more the importance of this financial institution’s support through the provision of preferential loan terms.

In addition to the provision of adequate financial conditions, the Montenegrin Government will also take into account the price, as well as the partners’ reputation and time-frame for carrying out the project, in choosing the partners for the project, the Minister Brajović pointed out.

During the conversation, the two officials tried to thoroughly elaborate the need for further optimisation of preferential terms which would be consistent with Montenegro’s fiscal capacities.

President of the Exim Bank Li Ruogu said that he will personally do his best to lower the interest rate of the preferential loan. He also explained the procedures in detail, so that both parties can maximise their efforts and be ready to meet them as quickly as possible, if the Government of Montenegro decides to choose the Chinese partners for the project.

The two Montenegro’s officials also met with President and Vice-President of the Poly Group Zhang Zheng and Wang Lin.

There are good possibilities for cooperation with Montenegro in the fields of real estates and infrastructure, the representatives of the Poly Group, one of major Chinese state companies dealing with research and production in the areas of military industry, real estates, energy, culture, said.

The construction of two ships (“Kotor” and “21 May”) has initiated the cooperation with the Poly Group and the delivery of two more ships is expected in 2014, Minister Brajović said. This kind of collaboration enhances Montenegro’s economic development, he stressed, adding there is room for deepening relations when it comes to the Port of Bar, thermo power plant Pljevlja (Block 2), and projects in the areas of solar energy, real estates, etc.