Government: EIB loan of EUR 60 million for a new road reconstruction project II

The government on Thursday gave the Croatian Roads approval to enter into Financing Agreement with the European Investment Bank for a debit of EUR 60 million for road reconstruction project II (Croatia)/B.

This project is a continuation of the road reconstruction project II from year 2006, which is also financed by the EIB loan in the same amount, and includes reconstruction of 52 sections of state roads in length of 675 km.

Phase A includes the 26 so far contracted stock of the total length of 371 km, and the works are completed in 16 shares, the remaining 10 works are in progress and completion of works expected by the summer of 2010th.

Phase B includes the remaining 26 shares that have not yet been agreed, the total length of 304 km.

The estimated total project value is approximately 345.84 million euros, or Phase A of 160 million euros, while phase B 185.84 million euros.

Beginning of work on the remaining 26 stocks that are planned to be realized through the second phase of this project is expected in January 2010, and completion by the end of December 2012.

According to estimates from the designer, the total value of the second phase Road Rehabilitation Project II, which includes the cost of construction, supervision, development projects, purchase of land and other costs amounts to about EUR 185.84 million.

Works which are planned to finance the new loan include: expansion of pavement, reconstruction of pavement and buildings, landscaping intersection, construction of bus station and stop for cars, repair and construction rubnika and shoulder, installation of traffic signs and equipment and construction biking and hiking trails.