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China Machinery Offers to Build $704 Million Belgrade Bypass

China Machinery Engineering Corp. offered to complete a highway around the Serbian capital that would be financed from a Chinese credit line for infrastructure projects in central and eastern Europe.

The Chinese builder may sign a preliminary agreement with the Serbian government in about 10 days for two sections needed to complete the Belgrade bypass, Serbia’s Transportation Ministry said in an e-mailed statement after talks with the company’s executives in Belgrade today. The work is estimated at 540 million euros ($703 million).

“CMEC is interested to secure the money for realization of the project from the Chinese development fund” which is worth about $10 billion, the Serbian ministry said in the statement, adding that construction of one of the sections may begin in early 2014.

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