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Chinese, Serbian government and city of Belgrade representatives yesterday signed an interim contract on the construction of the Zemun-Borča bridge.
The EUR 170mn bridge over the Danube – to be called the Chinese Bridge – will connect the Belgrade municipality of Zemun to Borča in the south of the Banat district, and according to designs, will be 1,507 meters long.
The deadline for the project to be completed is 2013.
The pre-contract was signed by the government, the city of Belgrade, and the China Road and Bridge Corporation, that will produce the design and build the bridge.
Up to 45 percent of subcontractor jobs and materials used will be Serbian, it was also announced.
85 percent of the funds necessary for the construction of the bridge will come from a loan approved by China's Exim Bank.
Economy Minister Mlađan Dinkić said that the loan came under "very favorable conditions".
He explained that the money will be paid off in the next 15 years, with a three-year grace period and a fixed annual interest rate of three percent.
China's Ambassador to Serbia Wei Jighua,said at the signing ceremony on Friday that the Danube bridge will be the largest economic cooperation project that the two countries have undertaken together thus far.
"At the same time, it is the largest bridge-building enterprise undertaken by a Chinese company in Europe," the ambassador noted.