Montenegro’s state-owned company Monteput, in cooperation with the European Bank for Reconstruction and Development (EBRD), has extended the deadline for submitting technical and financial bids for the second section of the Bar-Boljare highway, stretching from Mateševo to Andrijevica, to October 30.
According to Monteput, the extension reflects the complexity of the tender documents and numerous queries from potential bidders. The additional time allows companies to prepare comprehensive proposals, particularly regarding the procurement of necessary bid guarantees, which require extra coordination and administrative steps. Monteput stressed that the extension aims to increase competition and ensure submitted bids fully meet the technical and financial requirements.
This is the second extension for the tender. Previously, the submission deadline had been extended from October 2 to October 20 after several bidders requested extra time to complete documentation and secure guarantees.
Prime Minister Milojko Spajić announced on October 18 that the European Union will provide an additional €50 million for the construction of the Mateševo–Andrijevica section. He stated that within approximately 20 days, a contractor will be selected, and the funds will be secured through an amendment to the financial agreement between the Government of Montenegro and the European Commission. Spajić highlighted that the total support package includes €150 million in grants and €200 million in favorable loans.
Of the ten companies participating in the tender, five were invited to submit final bids. Monteput confirmed that the selection decision will follow a thorough evaluation of technical and financial documentation. The estimated cost of the Mateševo–Andrijevica section is €550 million, with the final figure to be determined after the second phase of the tender process.
The Government of Montenegro and EBRD signed a loan agreement in July under which the state will borrow €200 million for the project in two tranches of €100 million each. The first tranche is available immediately, with the second to be released three years later. The loan carries an 18-year repayment term, including a four-year grace period, and follows standard EBRD terms: a variable interest rate of Euribor plus 1%, a 1% processing fee, 0.5% per year on undrawn amounts, and 0.125% on canceled or prepaid portions of the loan.
The tender for the second highway section was originally announced on February 28 on the EBRD website, with an initial submission deadline of April 29, later extended to May 14.
