Since the opening of the Smokovac-Mateševo highway section in July 2022, revenues from its use have exceeded €18 million, excluding VAT, according to information provided to the Action for Social Justice (ASP) by Monteput.
From the beginning of this year, expenses and investments have totaled €21.8 million, with €12.2 million categorized as expenses and nearly €9.6 million as investments.
In the first operational year, from July 2022, revenues reached over €3.5 million, while last year nearly €8 million was generated. For the first eight months of this year, revenues are around €6.5 million.
Regarding expenses, in 2022, they were just under €3 million, increasing to €5.6 million last year, and totaling €3.6 million from January to August this year.
Of the total expenses of €12.2 million, €6.2 million were for salaries, which accounts for exactly half of the total expenditures. Other significant expenses included approximately €1.5 million for materials and services, €1.1 million for electricity, and €266,000 for fuel.
As the state-owned Monteput manages the highway, it also needs to invest in its upkeep, with a reported investment of around €9.6 million over the past three years. The first year of operation saw the highest investment outlay at €7.6 million, primarily for acquiring maintenance machinery. Last year, investments amounted to about €660,000, while this year’s investments are nearly €1.3 million.
The construction of the first section of the Smokovac-Mateševo highway took seven and a half years and cost over €900 million. The main contractor was the Chinese company China Road and Bridge Corporation, which also engaged local subcontractors.
Notably, the project was exempt from VAT, customs duties on imported materials and equipment, taxes on foreign workers’ salaries, and concession fees for stone usage. An additional estimated €300 million is attributed to these tax exemptions and project-related expenses, while the final cost of the Chinese loan from Exim Bank for this section will only be known once all principal and interest payments are settled, as noted by ASP.
