On 10 May, the Croatian government signed an amendment to the concession agreement with the concessionaire Bina-Istra d.d. to finalize the construction of the Istrian Y motorway. It is the key infrastructure for the development of tourism and economy in Istria, connecting Pula with Umag and Rijeka.
This amendment provides for the extension of the concession period and the investment of approximately EUR 200 million ($220 million) into the construction of a second carriageway between the Učka tunnel/Kvarner portal and the Matulji interchange, extension of Kvarner rest area as well as construction of the second viaduct across the Mirna River and the Limska Draga viaduct.
Simultaneously, Bina-Istra d.d. signed a contract with the French engineering group Bouygues to manage, maintain, and supervise the remaining construction works on the Istrian Y motorway. The construction is expected to commence in July 2023 and last for 38 months.
Our colleagues Iva Tokić Čuljak and Ivana Sverak Partners from Ilej & Partners in cooperation with Karanović & Partners advised the mandated lead arrangers in connection with the restructuring of the existing facilities granted for the Istrian Y concession motorway project.
Once completed, the Istrian Y, constituting a part of the Trans-European Transport Network motorway, will connect Istria with the rest of Croatia and Europe and will enable travelers to reach Pula in Istria from the capital city of Zagreb in just two and a half hours.
The information in this document does not constitute legal advice on any particular matter and is provided for general informational purposes only.