Minister Kavarić:Trans-Balkan Electricity Corridor is of enormous significance for Montenegro's energy sector and overall economy

Podgorica, Montenegro (7 July 2016) -- "Good transport connectivity is vital for the placement of all goods and services that are being produced or will be produced in Montenegro, and good energy connectivity is necessary for future investments in the energy sector and free flow of energy through Montenegro, that bring Montenegro financial and strategic benefits", Minister of Economy Vladimir Kavarić told the press conference following the signing of the contract on the construction of the Trans-Balkan Electricity Corridor - Section Montenegro, funded by the European Union and implemented by the German Development Bank (KfW).

Minister Minister recalled that the Berlin Process has enabled the Balkan countries to resolve long-standing issues related to the flow of goods and services, through the possibility of funding transport and energy connections with the region and the European Union.

"The Trans-Balkan corridor, which will connect Montenegro with Serbia, is a project that was approved at last year's summit in Vienna. The project includes the strengthening of the infrastructure related to the undersea energy cable between Montenegro and italy and building transmission lines between Montenegro and Serbia. The project is worth EUR 127 million," Minister Kavarić explained.

The Economy Minister said that the project is of enormous significance for the energy sector and overall economy in Montenegro.

"Undersea energy cable is Montenegro's priority that puts our country at the center of energy flows in this part of the world and completely changes the vision of all the other neighboring countries, giving them the ability to connect with Western Europe via Montenegro," he concluded.