European Investment Bank to Lend €250m for Koper-Divača Rail Track

By , 15 Feb 2019, 14:45 PM Business
European Investment Bank to Lend €250m for Koper-Divača Rail Track Wikipedia - Kabelleger / David Gubler GNU Free Documentation

Share this:

STA, 15 February 2019 - The European Investment Bank (EIB) has placed the project to build a new railway line between the port of Koper and Divača among the projects it would finance with loans. The state-owned company managing the project said that the EIB would provide a EUR 250m loan.

Announcing the news, 2TDK said that it had submitted the application for a EUR 250m loan to the bank last May.

"Negotiations between the EIB and 2TDK followed between October and January, on whose basis the investment bank will make a final assessment of the project and expectedly send it for confirmation by the board of governors in April."

Infrastructure Minister Alenka Bratušek, whose ministry is responsible for the project, welcomed the news, saying that the bank had recognised the quality and importance of the project.

"I'm happy that the things are moving in the right direction," the ministry quoted Bratušek, who added that the lengthy negotiations with the EIB had obviously produced a positive result.

"The decision is not final yet, but the placement on the EIB list means that the bank too has recognised the quality and importance of this project, which I believed in and expected throughout," the minister added.

In addition to government funding, the investment plan for the project also envisages loans from international financial institutions and the state-owned SID export and development bank, EU grants and loans from commercial banks.

The plan values the project at EUR 968m at current prices, but together with a reserve for unexpected works and interest the total price tag will be EUR 1.2bn.

All our stories on railways in Slovenia can be found here

The railway will be only 27 kilometres long, but the huge cost is attributed to the high number of tunnels and bridges on the tricky karst terrain.

Good news for the project also came today from the National Review Commission, which rejected a request for the suspension of public contracting pending an audit of the public tender for the project dossier.

The audit and the suspension of the public tender process was demanded by the engineering company Geoportal at the end of last year.

The review commission is yet to decide Geoportal's request to annul the tender. 2TDK had already rejected the request before forwarding it to the National Review Commission.

The sole bid for the job, worth EUR 19.93m excluding VAT, was submitted by a consortium of companies consisting of Elea iC, SŽ-Projektivno Podjetje and IRGO Consulting.

New Total Croatia Info Site

total-croatia-montenegro.jpg

Editorial

Photo of the Week

Photo galleries and videos

This websie uses cookies. By continuing to browse the site you are agreeing to our use of cookies.