eKapija`s investment team has recently done an analysis and formed the rank list of investments and investment ideas that drew the greatest attention of eKapija`s users in 2011. The results are very interesting, some are expected, but there is a plenty of surprises, so that we`ve decided to share this information with you.
Projects are classified into 12 categories and this time we are presenting the most interesting investments in the category of TRANSPORT.
Reconstruction of the Gazela Bridge was giving a headache to both citizens of Belgrade and those just passing through the capital of Serbia. Traffic jams on the Zagreb-Belgrade highway at the entrance to the city grew into a real collapse, and the river of cars moved at the speed of a snail.
At the same time, everybody was looking forward to seeing the end of the work on another location, so that the news about the opening of the Bridge at Ada made most citizens happy, in spite of speculations about higher price of its construction.
In the retrospective we here present, the price was an issue in almost all projects, but it is important that most projects were implemented last year, which is not often the case in Serbia. Among the projects completed in 2011 was the rehabilitation of the Gazela Bridge, a new bridge near Beska was opened last year, as well as the Bridge at Ada and the Obrenovac Bridge, while the construction of the "Chinese bridge" goes on schedule.
The only solution to the problem of traffic jams in Belgrade in a long run is a metro system, which is why the information about that transport system also drew a great attention of our readers.
Reconstruction of Gazela is the first-ranked investment on this list. Although the reconstruction was initially supposed to be financed from a EUR 25 million loan of the European Investment Bank, that finance institution closed the tap. They decided to make such move because all displaced Roma people, who used to live under the bridge, got prefabricated homes instead of apartments of the requested size. The City of Belgrade and Mayor Dragan Djilas then came to the rescue. Mr. Djilas promised that the rehabilitation of that bridge in Belgrade would not be discontinued and that the public road company Putevi Srbije would borrow the required EUR 30 million for its completion from domestic banks.
- The work on Gazela will not be halted, and it will be finished on schedule, until November 15th - Djilas said on that occasion. However, he was wrong because the busiest bridge in Belgrade was opened to traffic three days before the deadline - on 12 November 2011.
Although many people had doubts about the opening date of the Bridge at Ada, that bridge as well was opened on schedule. This project is the second-ranked in ekapija`s retrospective for the year 2011. However, the construction of a new symbol of Belgrade did not pass without problems. The issue was not the money, but contractors. Slovenia`s SCT declared bankruptcy on the last day of 2010, and its share of work on the Belgrade-based bridge was taken over by Austria`s Porr, Slovenia`s Primorje and Turkey`s Kolin.
There was another problem. Due to ownership issues, the City of Belgrade bought a 123-square-meter lot from its owners only after long negotiations, so that the access road from Pozeska Street, via the Hipodrom interchange, will not be completed until spring 2012.
Despite aforementioned problems, the bridge was opened in the New Year`s Eve, and the work on access roads is still in progress.
The only question that still remains unanswered is - How much will the construction of this bridge cost and who will pay it?
An answer to the same question is also sought from the builders of the bridge near Beska, which is the third-ranked investment on our list. The latest information says that the price of this bridge has already reached EUR 100 million. This masterpiece of engineering, as people call it, was opened to traffic in late October, and the first doubts in its quality were expressed later that month.
The fourth place belongs to Corridor XI, which was said to be built by "the reconciliation of the Islamic community" in Serbia. The media in Bosnia-Herzegovina announced an information in October 2011, citing well-informed sources in Ankara (Dnevni Avaz, Sandzak-news...), that Turkey would provide about EUR 330 million for the construction of the Belgrade-South Adriatic highway via Pester if members of the Islamic community in Serbia reconciled with each other. According to that information, the construction works are supposed to commence very soon, most likely before the elections in Serbia.
Several companies (Bechtel, Enka, and others) earlier expressed an interest in participating in the construction of a road via Pester and supporting the implementation of this project from their own sources. The highway construction was also promised to the people of Sandzak and the Raska region by Serbian President Boris Tadic and Turkish Prime Minister Redjep Taib Erdogan during their last year`s visit to Novi Pazar.
- A highway from Belgrade to the Montenegrin border will definitely go through Sandzak – Minister of Infrastructure and Energy Milutin Mrkonjic has recently confirmed.
The question is who will build the bridge because the first information in 2012 points to Russians and the Azerbaijani.
It is interesting that aforementioned Bechtel and Enka are building a highway from Merdare in Kosovo-Metohia to Drac in Albania, so that Corridor XI through Sandzak will come significantly close to this highway, which is called Ibrahim Rugova by people in Kosovo.
The citizens of Belgrade will have four years to get used to BusPlus cards until a metro system opens to traffic in 2017, or at least that is what the city officials promise. Our readers also expressed a great interest in that story, which is the fifth on the list.
The first metro line, which should connect central parts of the city - Ustanicka Street, New Mercator and Tvornicka Street on one side and the Central Railway Station and New Belgrade on the other side, may roll into service as early as in 2017.
The Chinese bridge is the sixth-ranked on the list. An entire settlement is formed on the bank of the Danube in Borca, the construction goes on schedule, and the city authorities has recently announced that the bridge will be completed in 2014. The value of this project is EUR 170 million, 85 percent of which will be financed by China`s Exim Bank, whereas the remaining 15 percent will be provided by the Republic of Serbia and the City of Belgrade.
Turkey will invest in another big project in Serbia - Morava (Ladjevci) Airport near Kraljevo, which is the seventh. This airport, backed by a EUR 10 million donation by the Turkish government, will be placed at the disposal of people of Sandzak, the Raska region, Kopaonik and Sumadija. Among the passengers on the first flight from the renovated airport were Serbian President Boris Tadic, Defense Minister Dragan Sutanovac and Minister of Economy and Development Nebojsa Ciric. The total value of this investment is EUR 32 million.
The eighth-ranked investment is the destiny of Serbia`s flag carrier, which drew a great attention of both public and our readers. An interest in the acquisition of the company Jat Airways was first expressed by Turkish Airlines and then by Lithuania`s Baltic Aviation Systems, whose co-owner Vladimir Antonov was later arrested. When all foreigners gave up, an information emerged that Jat would be taken over by domestic businessmen. We expect to learn in 2012 what will happen with the national airline.
The ninth is the Zezelj Bridge in Novi Sad, the tenth is the Pojate-Krusevac-Preljina highway, the eleventh is a tunnel through Fruska Gora, while the twelfth is Wizz Air`s operational center in Belgrade.