Door Opened for Massive Investment in Important Croatian Road

The European Commission has now approved a new concession agreement between the Croatian state and Bina-Istria.

As Darko Bicak/Poslovni Dnevnik writes on the 16th of June, 2018, after the European Commission approved the concession plan for the Istrian ipsilon yesterday, which will allow for the extension of the Bina-Istria concession, from the existing 2027 to 2032, it's certain that the investments amounting to a massive 165 million euro will be poured in to expand this crucial Istrian road.

Moreover, the European Commission has allowed Croatia the possible extension of the concession of the Istrian highway for a further eighteen months if such a move is sought by the technical requirements of the financial and investment plan(s).

Satisfaction with the decision was also readily voiced by MEP Ivan Jakovčić, who said that this had been long since expected. "There was a lot of lobbying in preparation for this. But that was all within the framework of European rules on state aid,'' Jakovičić made sure to verify.

He added that he believed that the possibility of finally completing the Istrian ''Y'' highway complex is now open, and that it can be managed in a way that will satisfy all the citizens of Istria and those who visit it. With the extension of the concession, Bina-Istria will be able to finance the construction of another 28 kilometre long roadway in the north-eastern part of the same road network. It is estimated that an investment of 165 million euro is needed for everything to be finally completed. "The decision of the European Commission confirms once again just how important it is to have excellent relations with EU institutions," Jakovčić concluded.

As has already been mentioned earlier by the director of Bina-Istra, Christian Santaleza, if the European Union approves the concession extension for a decade, the technical side is ready for a quick start to the construction on the Pazin-Vranje section of the road, with potential for the Učka tunnel, an area which also poses a bit of a problem.

"This is really good news. After two years of negotiations, on which we worked with the Ministry of Finance, the concessionaire, the international financial institutions and the European Commission, we've now got the ''green light'' to continue with the construction of the Istrian Y road network, which I expect in autumn,'' stated the Minister of Maritime Affairs, Transport and Infrastructure, Oleg Butković, following yesterday's government session.


Click here for the original article by Darko Bicak for Poslovni Dnevnik