📋 Tender Overview
At todays session of the Government of the Republic of Croatia the Decision on Amendments to the Concession Agreement for Financing Construction Management and Maintenance of the Adriatic Highway - section Dragonja - Pula and Kanfanar - Pazin - Matulji was adopted.The stated amendments to the contract with the concessionaire Bina - Istra dd envisage the realization of the investment of subphase 2B2-1. Also in order to repay the concessionaires loan the concession period is extended for a period of five years ending no later than June 15 2039 and the refinancing of the entire Istrian Y project.Subphase 2B2-1 consists of the construction of a second lane another lane in each direction from the Vranje junction to the Uka tunnel Kvarner Portal an 8 km long section on the north-east side of the motorway which includes the construction of a 5.63 km long second pipe of the Uka tunnel with equipment and cross connections and the construction of a new rest area on the Kvarner side of the Uka tunnel. The estimated value of the investment in sub-phase 2B2-1 is approximately HRK 1.5 billion and the works on the section should last 3 and a half years. Upon completion of the concession the investment remains the property of the Republic of Croatia and it is expected that the investment in sub-phase 2B2-1 will affect GDP growth by 0.5.Also the changes enable the reduction of the financial contribution of the Republic of Croatia in the medium-term financial plan for the period 2020-2022 by almost HRK 500 million assuming that the Concessionaire concludes refinancing before the end of this year which is extremely important taking into account current circumstances and the negative impact of the coronavirus pandemic on public finances.On this occasion Minister Oleg Butkovi pointed out that todays decision of the Government is extremely important not only from the aspect of increasing traffic safety on the Istrian Y but also through the significant impulse to invest in the economy envisaged by this project.By making this decision the works on the realization of phase 2B2-1 can begin as early as December 1 2020 and the completion of works on the full profile of the tunnel together with the Kvarner rest area can be expected by the 2024 tourist season. concluded Minister Butkovi.At the beginning of August this year the European Commission gave the green light to extend the concession agreement with Bina Istra and confirmed the compliance of the proposed amendments to the Concession Agreement in accordance with EU rules on state aid and public procurement.
