Release date: 13 September 2006
Promoter – Financial Intermediary
Zeljeznica Crne Gore a.d.
(Railways of Montenegro Ltd.)
Location
Description
The proposed project consists of the rehabilitation of railway infrastructure along the main trunk line connecting the Port of Bar and the capital Podgorica with Belgrade and Pan-European Corridor X, as well as the acquisition of selected items of rolling stock for maintenance and regional passenger services.
Objectives
The transport sector is important to the Montenegrin economy, and the railways play a critical role, also given the insufficient road network and the mountainous terrain, in ensuring movements of freight, particularly bulk items such as ores, steel and agricultural products. Railways are also a key transport mode for the Adriatic Port of Bar. Improvements in the railway infrastructure will enable the railways to respond to the demand and fully perform this role. This will benefit the economy of Montenegro which still relies on certain industries to generate most of the added value and employment.
Comments
Railways
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 34 million.
Total cost (Approximate amount)
EUR 68 million.
Environmental aspects
The proposed project comprises the rehabilitation of existing infrastructure on the existing alignment. It would therefore neither fall under Annex I nor Annex II of the EU Directive, thus not requiring an EIA. Taking into account the review of documentation concerning the project, no significant environmental problems are foreseen and the operation should have a rather limited environmental impact.
Procurement
The Promoter is aware of the Bank procedures regarding procurement. Procurement procedures will be checked for consistency with the Bank’s guidelines.
Status
Signed - 30/09/2008
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).