MONTENEGRIN HIGHWAY PROJECTS TO BE PRESENTED IN LONDON

UNCLAS PODGORICA 000146 SIPDIS COMMERCE FOR SSAVICH E.O. 12958: N/A TAGS: ECON ETRD PGOV MW SUBJECT: MONTENEGRIN HIGHWAY PROJECTS TO BE PRESENTED IN LONDON REF: PODGORICA 141 ¶1. Continuing their investment opportunity world tour, GoM officials will present two major highway construction projects at a Montenegro Investment Forum in London on June 3. Participants in the Forum, organized by the European Bank for Reconstruction and Development (EBRD) and the Montenegrin Ministry of Maritime Affairs, Transportation, and Telecommunications, will hear details and see a feasibility study for construction of the two highways which was conducted over the past ten months by the French company Louis Berger. ¶2. By September of this year, the GoM plans to initiate a PPP arrangement for the 170 km Bar - Boljari Highway Project, estimated to cost roughly two billion Euros, and which will eventually join a Serbian highway -- currently in the planning stages -- and ultimately link Bar to Belgrade. The other major highway construction project planned for the near-term is the Montenegrin connection of the Adriatic-Ionian highway which will link Western Europe to Greece through Croatia, Montenegro, and Albania. Though a secondary priority in terms of timeframe, the Adriatic-Ionian highway project will also be significant for investors; it is estimated that the 80 km road will cost around 1.2 billion Euros. ¶3. The Forum will be attended by representatives of major European and world commercial banks and companies engaged in highway construction. The Forum also will have participation at the highest level from GoM officials including Prime Minister Milo Djukanovic; Speaker of Parliament Ranko Krivokapic; Minister of Finance Igor Luksic; Minister of Maritime Affairs, Transportation, and Telecommunications Andrija Lompar; and Petar Ivanovic, CEO of the Montenegrin Investment Promotion Agency. ¶4. More information about the Montenegro Investment Forum will be available by the end of week on the EBRD web site: www.ebrd.com MOORE