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Croatian consortium loses highway contract in Montenegro
Croatian Times
Three Croatian construction companies have lost a highway construction contract in Montenegro worth 2.77 billion Euros because they failed to obtain a written bank guarantee for the work by yesterday (Tues).
The Croatian consortium, which includes construction companies Konstruktor, Tehnika and IGH, submitted the winning bid for construction of 188 kilometres of highway between Bar and Boljare in March 2009.
Montenegrin Minister of Maritime Affairs and Transport Andrija Lompar said he could not extend the deadline for a bank guarantee because that would imperil the project. Lompar said the consortium had had enough time to obtain a guarantee.
Croatian national television has reported that the Montenegrin government rejected the Croatian consortium’s guarantees because it considered them insufficient.
According to the Croatian media, the contract will be canceled tomorrow during a meeting of Montenegrin ministers.
It is expected that the Montenegrin government will soon start to negotiate with the other bidders, Greek Aktor and Israeli Construction and Housing.
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Tag cloud Housing Minister highway construction meeting national government Aktor Israeli bank guarantees canceled television Lompar considered Croatian imperil Greek Montenegro consortium
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