Azerbaijan, Baku, Feb. 3 / Trend N. Ismayilova /
The Azerbaijani company AZVİRT was chosen as the general contractor for road construction between Serbia and Montenegro, the Azerbaijani Economic Development Ministry said on Friday.
Serbian Foreign Minister Vuk Jeremic and Azerbaijani Economic Development Minister Shahin Mustafayev signed an agreement on an Azerbaijani loan to complete a section of the a called "Corridor 11" on Thursday. The loan is planned to finance the construction of the
road section from Ljig to Preljina in central Serbia.
The project includes the construction of 60 bridges, five tunnels and significant investments in Serbia's infrastructure.
Azerbaijan is allocating a loan worth 300 million euro for road construction. Credit resources were allocated for 15 years with a three year grace period of three years at an annual rate of four per cent.
Corridor 11 construction is currently underway in Serbia. About 12 kilometres between Ub and Laykovats are being built.