Chinese CRBC company, main contractor for the completion of Bar-Boljare highway, last year had a record loss of €142,85 million. According to the financial statements of the company, total loss in for years totalled €291,6 million.
Sales revenues totalled €258,9 million last year, whereas expenditures totalled €401 million. Over €71 million went on the material costs, wages, wage fees and other personal expenditures. Depreciation and provision costs totalled €93,5 million.
All this led to a net loss of €142,85 million in 2018. Since 2015 until 2018, it’s a total of €291,6 million.
In accordance with the international accounting standards, 11 companies estimated that the contract costs would exceed the total revenues by 219,5 million.
At the end of 2018, around 176 Montenegrin residnetsd and 42 foreigners were engaged in the project.
At that moment, there were 1.436 Chinese citizens working on the project. Costs of salaries were over €1,2 million, whereas costs of the salaries for foreigners totalled €21,5 million.
At the end of 20418. Fixed assets of the company was estimated at €70, 3 million whereas the capital in the minus was €258 million. Short-term reserves were estimated at €460,5 million, and long-term reserves were estimated at almost €6 million.
The company used reserves for the litigation in the amount of €402 thousand.
Rental costs amounted to €9,7 million last year.
CRBC has signed with the Government several annexes to the main contract referring to works which are not part o0f the construction contract. The Government will pay additional amount for the accession roads and water supply system. Electricity supply will be paid by Monteput, and works are planned to be carried out by energy companies. It will cost almost €40 million.
New deadline for the completion of works is end of September next year.
