SARAJEVO, Sept 3 (Hina) - Bosnia-Herzegovina's Council of Ministers is expecting written proof of Bosmal's bank guarantees and financial reliability before it considers the company's bid to construct a highway through the
country.
SARAJEVO, Sept 3 (Hina) - Bosnia-Herzegovina's Council of
Ministers is expecting written proof of Bosmal's bank guarantees
and financial reliability before it considers the company's bid to
construct a highway through the country. #L#
The joint Bosnian-Malaysian company has announced that one of the
directors of Bank Islam Malaysia Berhad is arriving in Sarajevo on
Wednesday to assure the council of the existence of bank guarantees
worth 300 million euros.
Depending on the results of these talks, the council will formally
consider Bosmal's bid as well as a letter of intent of the Croatian
government containing a bid to draft a feasibility study for the
construction of the highway. A session of the council is scheduled
for Thursday.
"We (...) will consider all the bids and decide which one to
choose," council president Adnan Terzic said.
Bosmal did not seem particularly disturbed by potential
competition. "As far as the Croatian bid is concerned, it's up to
the Council of Ministers to decide whose bid is better," Bosmal
spokeswoman Amra Kebo told Hina.
Kebo said that her company's most convincing argument lay in the
fact that it had met its commitments three months before the
deadline, raising an initial 300 million euros necessary for the
preparation of project documents and the purchase of land.
She said that Bank Islam Malaysia Berhad was behind a project for
the construction of a City Centre complex in Sarajevo which has
attracted a lot of public attention.
A final decision on awarding a concession for the construction of
the highway, known as Corridor 5C, will also depend on the position
of a Commission for Concessions, which is yet to be established.
Terzic said this body would be set up later this month. The
commission would consist of three experts from the Muslim-Croat
federation and as many from the Serb entity. The crucial seventh
member would be a foreigner appointed by the Office of the High
Representative for a term of five years.
(hina) vm