ZAGREB, Aug 8 (Hina) – Transport Minister Oleg Butkovic has said that the extension of the Istrian Y motorway concession agreement between Croatia and the company Bina-Istra until 2039 envisages €197 million worth of investments and that the motorway is expected to be completed to the Ucka tunnel by 2021.
The second tube to the Ucka tunnel and the full profile of the motorway should be completed by 2024, the minister said.
The concession agreement will be prolonged until 2039 even though we believe that the loans will be repaid somewhat sooner and the investment will be repaid by 2037, after which Croatia will become the owner of the motorway, Butkovic said.
This is the continuation of construction and investments in big infrastructure projects, notably transport, Butkovic said, stressing that currently around 25 billion kuna worth of investments, mostly financed with EU funds, was underway.
The European Commission on Friday approved, under EU State aid rules, Croatia’s plan to prolong the Istrian Y motorway concession agreement with the company Bina-Istra. This will allow €197 million of new investments by the concession operator to go ahead while limiting distortions of competition, the EC said.
The EC said that the motorway is a 145 km long motorway linking the Istrian region with the rest of Croatia. The motorway is operated under a concession agreement from 1995, which was awarded to Bina-Istra until 2034.
The prolongation will allow Bina-Istra to finance the construction of a second carriageway (one more lane in each direction) between Vranja Interchange and the Ucka tunnel/Kvarner portal – an 8km stretch on the north-eastern side of the motorway.