BUSINESS IN SHORT

Third PPP agreement to be inked soon

THE CONCESSION agreement for the last, third public-private partnership (PPP) project for construction and operation of the D1 highway stretch between Žilina and Martin should be signed around mid December, the SITA newswire reported.

THE CONCESSION agreement for the last, third public-private partnership (PPP) project for construction and operation of the D1 highway stretch between Žilina and Martin should be signed around mid December, the SITA newswire reported.

However, the draft concession agreement must be approved first by the cabinet. The cabinet’s approval is conditioned on the participation of the European Investment Bank (EIB) in funding the project. After the concession agreement is approved by the cabinet and signed, preparatory works will be launched.

Funding of the third highway project from private funds could be secured in the first half of 2010. The participation of the EIB is expected to be around €1 billion.

“We are holding talks with the EIB, which presented additional requirements for its involvement in this process, which is why it has been prolonged by two to three weeks,” said Transport Minister Ľubomír Vážny, as quoted by SITA.


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