dec 2, 2014 - China Pacific Construction signs $3.2 bln Montenegro-Albania highway deal
Description:
China Pacific Construction Group (CPCG), the country’s largest private builder by revenue, signed a 3 billion euro ($3.19 billion) deal to build an expressway between Montenegro and Albania, the company said.
Construction of the 280 kilometre link will begin in the second half of 2016 and take about eight years to complete, it said.
The firm plans to use toll rights as collateral for the project, chairman Yan Jiehe told reporters at a briefing in Beijing on Thursday. Financing has yet to be finalised, he said.
CPCG’s foray into Europe follows Beijing’s encouragement of domestic firms to look overseas for business opportunities, the so-called “go out” policy.
https://www.reuters.com/article/china-pacific-construction-montenegro/corrected-china-pacific-construction-signs-3-2-bln-montenegro-albania-highway-deal-idUSL3N13L3Q720151202
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