DARS Gets Last Green Light for Record Loans

Parliament has passed the act on state guarantees for over one billion euros in loans that the Motorway Company (DARS) can take out, clearing the last legislative hurdle for the record loans.

The act was passed along party lines in a 46:19 vote on Thursday, just two days after the lawmakers confirmed the act on state consensus for the loans.
According to the two pieces of legislation, DARS will be able to take out loans until 2010 to fund the construction of 25 motorway sections.
According to Transport Minister Janez Bozic, this will allow DARS to secure the funding necessary for the construction of 90% of the Slovenian motorway network.
In line with projections, the 25 planned sections will require EUR 371.8m of DARS's own sources, EUR 780.9m from already existing loans, and EUR 1.03bn from the loans envisaged by the new act.

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