Construction of a Second Railway Track from Koper to Divača in Slovenia

The project encompasses 27 km of railway tracks between Koper and Divača, which includes construction of eight tunnels, two bridges, two viaducts and one gallery. Estimated value of the project is around EUR 1 billion with anticipated time for completion until 2025. So far, the Slovenian Government already procured the necessary land and obtained the building permit.

The project will be partially funded with EU funds and all tenders will be public and open to all EU tenderers. Implementation of the project will bring substantial opportunities for construction companies (the following Slovenian construction companies are mentioned in the media as possible contractors: KOLEKTOR KOLING d.o.o., GH HOLDING d.o.o., SŽ - ŽGP Ljubljana, d.d.), suppliers of construction materials and equipment, banks as lenders, owners of Luka Koper (“Port of Koper”) who will be able to substantially increase its cargo handling capacities, logistics companies, Slovenske Železnice (Slovenian railway operator) and other service providers. First public contract for implementation of preparatory works was already awarded to consortium of Kolektor CPG d.d. and Serbian Euroasfat was selected as the winning tenderer.

Construction Projects in Kosovo

Construction Projects in Kosovo include:

  • Construction of the railway Republic of Kosovo – Hani i Elezit, close to Republic of Macedonia border (connection to Pan European Road Corridor VIII);
  • Construction of the electricity generation facility of Kosovo e Re Power plant, Contour Global and Government of Republic of Kosovo contract;
  • Railway Project Tirana – Pristina – Skopje.

New Vlora Airport Project

The Council of Ministers has decided through an accelerated procedure and special draft law to pave the way to one of the most important projects of air infrastructure in Albania. This offer envisages an investment of approximately EUR 100 million. It will be a completely privately financed project.

The Albanian Government submitted the draft-law on the negotiation procedure with the Turkish companies to the Parliament. According to the initial project, the consortium of three Turkish companies, Cengiz Construction, Kalyon Construction, and Kolin Construction,will invest EUR 100 million for the airport construction. In exchange, they will manage the project for a defined period of time and also receive a guaranteed profit.Based on the above-mentioned report, the Government foresees that over 80 percent of international tourists travel to Albania through Vlora Airport. This would make it larger than TIA in terms of passenger number. The new Airport of Vlora is expected to have a major impact on economic growth and tourism promotion.

Rehabilitation of Albanian Railway Line

The Albanian Railways intends to use the proceeds of a loan from the European Bank for Reconstruction and Development (EBRD) and grants from the European Union (EU) through the Western Balkans Investment Framework (WBIF) for the rehabilitation of the existing railway line between Tirana and Durres with approximate length of 34.17 km and construction of a new rail link approximately 5 km in length to connect with Tirana International Airport "Mother Theresa" and its interchange with the existing line.

The project has a total estimated cost of EUR 90.3 million and will require the procurement of the following goods, works and services:

  • Works for the rehabilitation of the Tirana - Durres railway line and construction of a new rail link to Tirana International Airport "Mother Theresa"; and
  • Consultancy Services for the supervision of works (tendering process is ongoing).

    Albania: Dubai al-habtoor group to build 350 meter tower in Albania

    July 14, 2017

    The chairman of Al Habtoor Group has shown interest to invest in Albania, in extension of Tirana boulevard. The Al Habtoor Group will be in Tirana soon, to see first -hand the location of investment, which will have a positive impact, in terms of investments from Arab countries as well as attraction of visitors from these countries. In April, this year parliament passed by fast track procedure a draft law which is aimed at negotiating an agreement between the Albanian state and Dubai-based Company “Al Habtoor Investment LLC” on design and construction of iconic tower in Tirana. The investment worth USD 250 mln foresees construction of this object in extension of Tirana’s New Boulevard.
    As currently envisioned, the 25,000-square-meter (29,904-square-yard) tower would occupy an extension of the capital's main boulevard and house businesses and possibly Tirana City Hall. The builders would be exempt from tax payments for 15 years as an incentive.
    Al Habtoor Investment is a subsidiary of a subsidiary of the Al Habtoor Group, a conglomerate with interests in the hospitality, automotive, real estate, education and publishing sectors.

    Albania: EBRD will provide a sovereign loan to the Republic of Albania for the benefit of the Albanian Railways

    July 14, 2017

    EBRD will provide a sovereign loan to the Republic of Albania for the benefit of the Albanian Railways (“HSH” or the “Company”). The loan will finance:

    i) the rehabilitation of the existing railway line between the cities of Tirana and Durres with approximate length of 34.17 km and

     ii) the construction of a new railway link approximately 5 km in length to connect the existing Tirana-Durres rail line with the Tirana International Airport (TIA) and the interchange with the existing line. The proceeds of the Bank’s loan will be used to co-finance the construction works related to the Project.
    The Project is part of Route 2 of the Western Balkans Core Network connecting the cities of Podgorica in Montenegro and Vlore in Albania and has been established as an indicative extension to the Trans-European Transport Networks (TEN-T) to the Western Balkans core railway network.
    The Project will support Albania’s national economic development and contribute to Albania’s regional integration by improving connectivity of its main cities to the Port of Durres and TIA.
    The total Project cost is estimated to be up to EUR 92.03 million.

    Turkey: Akfen holding sells 8.12% capital of TAV Airports

    July 14, 2017

    Akfen Holding Anonim Şirketi has announced the sale of 8.12% of the total registered capital of TAV Havalimanları Holding Anonim Şirketi (“TAV Airports”) to Aeroports de Paris SA (“ADP”). Target is one of the major companies in airport operating sector. TAV Airports operates 10 airports across three continents including Tunisia, Turkey and Latvia.
    According to Hürriyet, the estimated market price of the assets as of 9 June 2017 is EUR 160 million for the sale of 8.12% of TAV Airports. After the contemplated share sale, the total share of ADP will increase to 46.1%.

    TURKEY: IPO of Metro Turizm

    July 14, 2017

    Metro Turizm Seyahat Organizasyon ve Tic. A.Ş. (“Metro Turizm”) has announced the intention to launch an Initial Public Offering (“IPO”) for the sale of shares, which is currently owned by Galip Öztürk. Metro Turizm is one of the major bus companies with around 1,700 buses.
    According to Galip Öztürk, the CEO of Metro Turizm, the estimated market price of the assets as of 10 February 2017 was between TRY 900 million and TRY 1,1 billion. The previous deal in the sector was Actera Group’s acquisition of the 100% shares of Kamil Koç Otobüsleri A.Ş., another bus company, for TRY 65 million in 2013.

    Construction of the Second Rail Track between Koper Port and Inland Hub Divača, Slovenia

    January 17, 2017

    The Infrastructure Ministry announced a public tender for the choice of the producer of the verification of the estimated investment value and potential rationalisation and optimisation of the project in January 2016. The Slovenian Government has established a special-purpose entity (SPE) whose job will be to construct and manage the second railway track and the Slovenian Ministry of the Environment and Spatial Planning issued a construction permit for building the second railway track in March 2016. The project estimated value is EUR 1.4 billion.

    Potential sale of HEP d.d., Croatia

    January 13, 2017

    There have been talks that the Croatian Government will announce the sale of the minority stake in HEP d.d. Namely, a minority share of 25% of shares (minus one share) would be sold by way of IPO.

    HEP d.d. (Hrvatska elektroprivreda (HEP Group); "HEP")) is a national power company in Croatia which has been engaged in electricity production, transmission and distribution for more than one century.

    Continued development of LNG Terminal on the island of Krk, Croatia

    January 13, 2017

    Talks on the development of LNG Terminal have been reactivated. At the recently held Energy Market Forum in Zagreb, Croatia, professionals from the field and government officials reconfirmed the importance of LNG Terminal both for Croatia and the region.

    Cost of the project depends on the transport capacities to be constructed which in turn depend on the market demand.

    According to some estimates, the cost of the project for the capacities of 5 billion cubic meters of gas is somewhere around EUR 300 million, 50 % of which amount is expected to be covered from the EU funds and 25 % from the Republic of Croatia.

    The remaining amount should be covered by private investors.

    Procedures for Award of Concessions for Sofia Airport and Vidin–South Port Terminal

    Sofia Airport

    The Bulgarian Ministry of Transport, Information Technology and Communications (MTITC) has opened in June 2016 a procedure for the award of a concession for Sofia Airport, the largest international airport in Bulgaria. The term of the concession will be 35 years. A one-off initial concession fee has been set at not less than BGN 660 million (ca. EUR 330 million) and the total value of the concession for its entire term is expected to exceed EUR 1 billion.

    The deadline to submit offers has been extended to 30 November 2016 following a request from three interested companies.

    Ports on the Danube River

    One concession is already announced for the Vidin–South Port Terminal with upcoming concessions to be announced also for three river ports located on the Danube River and one sea port: Ruse-West, Ruse-East 1 and 2 and Port Varna.

    For more information, please download the presentation for the airports and ports prepared by the MTITC at

    Construction of two motorways in Bosnia & Herzegovina

    The Federation of Bosnia and Herzegovina is planning the construction of two motorways: Doboj Jug – Zenica, section of Corridor 5c (39 km) between the sections of Karuše and Poprikuše and the motorway on Corridor vc, section Donja Gračanica-Drivuša, subsection Klopče-Donja Gračanica. The company implementing the project is JP Autoceste FBiH d.o.o. Mostar.

    Privatisation of the Greek Electricity Independent Transmission Operator

    The latest bail-out entered into force in August 2015 sets out that the Greek Electricity Independent Transmission Operator will have to be privatised, unless other measures which will bring about equivalent results can be proposed. While the exact format of this privatisation has not yet been determined, several scenarios have been proposed and the Greek State is expected to announce the final format soon.

    Railway Rehabilitation Project in Kosovo

    The EBRD is considering providing a sovereign loan of up to EUR 71.8 million to the Infrastructure of Kosovo Railways JSC (“InfraKos”). The loan would finance the urgent rehabilitation and upgrading of SEETO’s Rail Route 10 within Kosovo, 148 km long, from the border with Serbia in the north of Kosovo (Leshak station) to the border with Macedonia (Hani I Elezit station). This railway line is the only operational railway link connecting the domestic network of Kosovo to the international network. The project is part of SEETO’s Comprehensive Network and will support Kosovo’s integration to the regional and European markets.

    While the beneficiary of this Project is “InfraKos”, which is responsible for the provision and maintenance of the railway infrastructure, and the Project is signed by the Board on September 2nd, 2015 the implementation of the Project is waiting for the final approval.

    Strategic Development of Airport Nikola Tesla in Serbia - August update

    Following the news about the upcoming privatisation of the Belgrade Airport Nikola Tesla in June 2016, the Serbian Government decided to go forward with the concession structure and is already drafting the relevant legislation to regulate the details of the concession award process. Public invitation for the participation in the tender for the concession is expected at the end of September this year.

    As of June this year, the Belgrade Airport is directly connected to New York (JFK). This contributed to the record monthly number of passengers in July 2016, when the Belgrade Airport handled 589,159 passengers, a 3% rise compared to August 2015.

    The minimum investment of the prospective concessionaire is expected to reach EUR 400 million. The Serbian Prime Minister Vučić announced that the expected annual concession fee is in the range of EUR 10-12 million.

    All major regional operators, as well as certain sovereign UAE funds and Chinese SOEs, have been reported to be interested in the concession.

    New motorways and bridges are planned to be built in Turkey

    New roads are planned under various PPP models, mostly in the form of Build-Operate-Transfer (BOT) projects. The major pending road BOT projects are the Bosphorus Car Tunnel Project (Eurasia Tunnel), the Gebze - Izmir Motorway Project, the Izmit Bay Crossing Project, the 3rd Bosphorus Bridge, the Northern Marmara Toll Motorway, the Çanakkale Bridge and the Ankara – Izmir Motorway. In addition, privatisation of existing toll motorways and bridges is in the pipeline. This privatisation will be realised by a transfer of operation rights, for a term of 25 years.


    On its 115th Regular Session in December 2016, the Slovenian Government familiarized itself with the seventh report of the work of the Interministerial Working Group for the preparation of a set of forms of public-private partnerships to build a Second Rail Track between Koper Port and Inland Hub Divača in Slovenia (estimated project value is EUR 1.4 billion).

    On the said Session, the Government also imposed on the Ministry of Finance and the Ministry of Infrastructure to ensure the implementation of the capital increase of the project company 2TDK, Družba za razvoj projekta, d.o.o. in the amount of EUR 20,000,000 to execute the preparatory works. The company 2TDK, Družba za razvoj projekta, d.o.o. has been previously established by the Slovenian Government as a special-purpose entity whose job is to construct and manage the second railway track.

    In addition, the Government imposed on the Government Office for Development and European Cohesion Policy and Ministry of Finance to prepare a proposal of possible solutions to provide at least € 100 million for the implementation of the project for construction of the new rail track.

    The Government also imposed on the Ministry of Infrastructure to carry out all the activities, required to apply for tenders for European funds under the IPE mechanism, aiming to obtain sufficient grants for financing, while the project could thus qualify for funding by the European Investment Bank with the guarantee of the European Fund for Strategic Investment and without the state guarantee of the Republic of Slovenia.

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    The BAMC issued an Invitation to tender for the purchase of the industry complex TVM in Maribor. The said business complex represents a 36.001 m2 large area with production facilities. The production facilities are equipped with production equipment, machinery and other assets, required for pursuing the business activity of vehicle manufacture.

    The initial price for the above mentioned complex is EUR 6,000,000.00 (without VAT) and the deadline for submitting offers is 15 March 2017.


    The Bank Asset Management Company is contemplating selling its claims against the company Hoteli Bernardin d.d., which is the largest provider of hospitality services on the Slovenian coast.


    The shareholder Unior announced the sale of its majority stake (98.56 %) in the company RTC Krvavec, d.d. ("Krvavec"), which is one of the most visited ski resorts in Slovenia. The sale is expected to be concluded this year.