The Turks are building roads in Serbia - Agreements on building two sections of Corridor 11 and reconstruction of the road Novi Pazar-Aljinovici

Minister for National Investment Plan (NIP) Verica Kalanovic signed today (12th of July 2010) several bilateral agreements with the representatives of Turkey and its construction companies that will enable cooperation in the construction of motorways in Serbia, announced the Ministry of NIP.

The agreement determines cooperation of Serbia with the Turkish companies in providing the funds for construction of roads and implementation of joint projects.

They also signed a Memorandum of Understanding in realization of construction of the sections of the highway Belgrade-South Adriatic Sea (Corridor 11) from Ljig to Cacak and from Cacak to Pozega, as well as the Framework Agreement on implementation of the reconstruction project of the state road M8 from Novi Pazar to Aljinovici.

Agreements on cooperation in the construction of motorways in Serbia, as stated in the report, are one of the concrete results of the visit of the Turkish government delegation led by Turkish Prime Minister Rejep Tayyip Erdogan.

Turkish company, "Kolin Insat", which has earlier expressed interest in involvement in the construction of the first section of the Corridor, will be joining other Turkish construction companies interested in building of the sections Ljig-Cacak and Cacak - Pozega, but also for other sections.

With construction of the highway M8, announced the Ministry of NIP, Serbia will get the modern roads that will make the connection with Corridor 11 and be a part of the project of networking of Serbia's freeways.

To financing of this project, there will be allocated 15% of required funds from the Serbian budget, while 85% will be financed from the loan of Exim Bank to be provided by the Government of Turkey.

Intergovernmental agreement anticipates that the work involves at least 45% of domestic construction companies, in order to have involvement of domestic equipment.

Government of Serbia and Turkey signed on October, 26th, 2009 in Belgrade, the Agreement on cooperation in infrastructural projects.