Published By : 01 Dec 2015 | Published By : QYRESEARCH
Chinese Pacific Construction Group, one of the leading and the largest construction company in China has taken up the project to build the highway that will run between Albania and Montenegro. The construction of the highway will be a high profile project for the Chinese construction company, which will connect two high altitude countries in Europe by road.
As reported by Reuters, the Chinese construction company which is the largest in China by revenue has signed an agreement worth US$1.72 bn for the construction of the highway that will connect Albania and Montenegro. The company itself revealed the news post the details of the project were chalked out.
The length of the highway that will connect Albania and Montenegro is slated to be 280 km. As started by the officials of the construction company, the construction will begin in the second half of 2016 and will be completed by the end of 2018. The construction of the highway between Montenegro and Albania is a mega-budget project, for which China will make investments of US$1.72 bn for the same. The company itself revealed the news post the completion of the agreement formally. This was stated by the company president Yan Jiehe at a press conference held in Beijing.
The President of the Chinese Pacific Construction Group further started that the company has plans to levy road charges as collateral road fees for the project. The company president further added that the funding for the construction of the highway is yet to be finalized.
However, authorities in Albania and in Montenegro have not issued any statements yet regarding the news of the construction of the highway released by China. It is only the Chinese party that has revealed information about the construction and project and any information from the other party is yet to be received.