BIT Law advises PUC Belgrade Metro and Train regarding a 720 million EUR Agreement

BIT Law advises PUC Belgrade Metro and Train regarding a 720 million EUR Agreement concluded with PowerChina. The Agreement encompasses construction works for the first phase of Line 1 of the Belgrade Metro, with Lot 2 designated as a separate project unit.
PowerChina, a state-owned company supervised by the state-owned Assets Supervision and Administration Commission of China, is responsible for designing, construction, and procuring tunnel boring machines under the terms of the Agreement.
The Agreement was concluded under the FIDIC Yellow Book 2017 model, outlining the conditions for design and construction works. It also builds upon the previously successfully concluded Agreement from August for Lot 1 of Line 1 P1, where the FIDIC Green Book 2021 model, known for its innovative approach to contracting, was applied for the first time in the region.
The BIT Law legal team, led by partners Katarina Obradović Baklaja and Boris Baklaja, played a pivotal role in the negotiations and conclusion of this significant Agreement.