Bank Austria backed construction of Horgoš-Požega highway?

- The project for construction of Horgoš-Požega highway, which should be implemented by Austrian companies "Porr" and "Alpine", has been started again, after the two companies obtained financial support from Bank Austria - daily economy newspaper "Wirtschaftsblatt" announced.

The newspaper reminds that "Porr" and "Alpine" were anxious about realization of the project worth 1.1 billion EUR because were unable to provide banking guarantees on time.

Deutsche bank was supposed to provide guarantees, but, due to political "turbulences" and early elections, that bank ceased implementation of all projects in Serbia.

The Austrian companies got the support for realization of the project from UniCredit Bank, that is, from its sister company Bank Austria. "Wirtschaftsblatt" also states that the amount of 10m EUR has been transferred to the account of the joint venture of "Porr" and "Alpine", which is supposed to implement the project for construction of highway in Serbia.

Negotiations with Deutsche bank are still underway and "Porr" and "Alpine" have time until the end of December to present the necessary banking guarantee.