Serbian Prime Minister Aleksandar Vucic announced on Thursday that an agreement has been endorsed in China for the building of a couple of sections of Corridor 11. The prime minister, who has been visiting China this week, stated that it would cost an approximately EUR 209 million.

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The PM said he was planning to hold discussions with his Chinese counterpart PM Li Keqiang on even better conditions. He added that this was "a very favorable credit arrangement with a lengthy grace period."

According to B92, the Serbian leader made it clear that the EUR 209 million was inclusive of the cost of setting up the 17.8-kilometer Surcin - Obrenovac Bridge. The prime minister was optimistic that by the end of 2018, the second part, which runs from Cacak to Pozega would be finished.

Vucic said that China was also planning to invest about EUR 300 million in the building of a manufacturing plant that would make welded pipes depending on Zelezara Smederevo's output. He added that this would trigger a notable expansion of the GDP of Serbia.

According to Tanjug, the two leaders also attended the endorsement of several bilateral agreements, including the one between HBIS and the government of Serbia on the Smederevo Steel Mill. The bilateral visit to China has seen a number of memorandums signed.

The two leaders,  Serbian PM Vucic and Chinese Prime Minister Keqiang, said that the conventional friendship between the two nations and their shared political interests should be reflected in particular actions. Keqiang added that there was a  room to expand cooperation in the growth of SMEs, agriculture and tourism.

TagsSerbian Prime Minister, Aleksandar Vucic, Corridor 11, Very Favorable, Obrenovac Bridge, Serbian leader, Chinese leader, Serbian PM, Two leaders, Chinese counterpart, Li Keqiang