The construction site of the Moracica bridge of Montenegro's first highway, about 14 km north of the capital Podgorica. File Photo:Xinhua

The Smokovac-Matesevo section of the Montenegro North-South Expressway constructed by the China Road and Bridge Corporation (CRBC) is expected to complete in November in 2021, CRBC told the Global Times on Wednesday. 

The Smokovac-Matesevo section is the largest single project under China's $10 billion concessional loan to Central and Eastern European (CEE) countries, which is also viewed as the flagship project of China-Montenegro economic and trade cooperation.

The project has a contract value of 809 million euros ($948.19 million) with 85 percent of the funds needed loaned from China Exim Bank and 15 percent matching funds from the Montenegrin government. Construction began in May, 2015, and is expected to complete in November. 

As the first highway in the history of Montenegro, the completion of the Montenegro North-South Expressway will be integrated into the international road traffic network, connecting several countries in Central Europe, which will help the overall economic development of Montenegro, according to CRBC.

Moreover, the expressway will greatly improve the safety of the traffic in Montenegro as it will integrated towns along the route into the half-hour economic circle of the capital and tap the development potential of the less developed areas in northern Montenegro, while creating a large number of jobs and promoting the development of local energy, tourism and other industries.

The Montenegro North-South Expressway is about 180 kilometers and connects with Serbia's E763 expressway which is currently under construction. 

Global Times