China’s CRBC company has been preparing the necessary documentation regarding the return of employees to the construction site of the priority motorway section, and we expect the get the answers and exact dates on their return these days, head of the company ‘Monteput’, Mr Jonuz Mujević, told in an interview for Dnevne Novine daily.
-Key moments from the interview with Mr Mujević-
Montenegro’s Prime Minister recently confirmed that there would be certain delays concerning the priority motorway section, as Chinese workers couldn’t return to Montenegro due to the coronavirus epidemic. When do you expect Chinese workers to come to MNE and is there a possibility to engage domestic workforce?
Mujević: It’s likely that the construction of the priority Bar-Boljare motorway section is going to be late, as the contractor, China’s CRBC company, cannot return its staff from China to Montenegro due to Covid-19. The Chinese sent a request to the project manager – Business unit for the implementation of the Bar-Boljare motorway project – requiring extension of the deadline for motorway construction.
It’s important to emphasize that construction works on the motorway have entered final stages, i.e. approximately 90% of contracted works have been completed.
Are you satisfied with the job done so far when it comes to the priority motorway section?
Mujević: Beside remarks about the deadline, the quality of performed works is in line with the project and standards for this type of works.
You’re in charge of the project for permanent electricity supply of the motorway. How is it going?
Mujević: In 2019, the Government awarded this company a project for permanent electricity supply of the first motorway section. Monteput company selected the contractor through a tender procedure, signed contracts with it and all contractors were introduced with their tasks on September 30, 2019. In order to monitor the implementation of the investment, this company has registered itself for performing audit and supervision over complex engineering facilities. By engaging our own resources only in this part of the project, we will save this company and the state a lot of money and costs.
You were not able to collect toll taxes as the tunnel Sozina has been closed for over a month. Is it going to have adverse effects on business affairs of Monteput?
Mujević: The National Coordination Body for Communicable Diseases, NKT, has taken certain measures having in mind the coronavirus outbreak. The measures directly affect our revenues, that is, the implementation of Monteput’s 2020 Financial Plan, especially the first quarter of 2020.
The revenues went down following the introduction of measures – inflow in March dropped by 34.20%, while in April it went down by 72.83%. Therefore, since the start of the coronavirus outbreak and the introduction of NKT’s restrictions, our revenues went down by 53.84% in this period.
Do you regularly pay off installments of the loan for the construction of the tunnel Sozina? How much is left?
Mujević: Monteput Ltd. is regularly repaying the loan taken for the construction of the Sozina tunnel. The remaining loan balance is €15,718.015, i.e. €12,813.350 refers to the loan principal and €2,904.665 to the interest. We pay our liabilities twice a year – on 15 April and 15 October. The final instalment payment will be made on 15 April 2030.
How many vehicles have passed through the tunnel Sozina since the opening?
Mujević: Since the introduction of toll collection, that is, from 15 July 2005 to 12 April 2020, a total of 33,941.586 vehicles passed through the tunnel.
The revenues collected in this period amounted to €113,164.079.
How much net profit did you make last year?
Mujević: In 2019, we collected net revenues amounting to €8,535.173 and net expenditures amounting to €6,849.350. We have made a positive financial result before the taxation in the amount of €1,685.823, and better financial result by 5.5% compared to 2018. Here I’d like to mention that we were talking about revenues and expenditures with the reduced rate of VAT – 21%. Therefore, gross revenues and expenditures were by 21% higher.
