Memorandum on cooperation for the construction of the Adriatic-Ionian highway was signed

Representatives of the Montenegrin Ministry of Transport and Maritime Affairs, the Ministries of Transport and Infrastructure of Albania and the Chinese company Pacific Construction Group Corporation Limited (CPCG) signed a Memorandum of Understanding in Beijing on the implementation of the Adriatic-Ionian highway construction project based on the private-public partnership model.

The Montenegrin Government announced that the Memorandum, which was signed on Wednesday by the Minister of Transport and Maritime Affairs, Ivan Brajović, defined the establishment of a cooperation mechanism between Montenegro and Albania and the company CPCG, as well as activities aimed at realizing that project in those two countries.

"The duration of the Memorandum is limited to 18 months with the possibility of extension, depending on the interest of the signatories," the statement added.

CPCG was founded in 1995 and is one of the largest private companies in China. Its main activity is the design and construction of infrastructure, especially traffic.

The signing of the Memorandum was attended by the President of the Government of Albania, Edi Rama, the Montenegrin Minister of Sustainable Development and Tourism, Branimir Gvozdenović, and the national coordinator of Montenegro for cooperation with China, Goran Jovetić.