Press Releases
U.S. Embassy Congratulates Croatia on Opening Ceremony of the Bregana-Zagreb-Split Highway
For Immediate Release
Zagreb, Croatia, June 24, 2005 -- U.S. Ambassador Ralph Frank sent congratulations to Croatian officials for the completion of the Bregana-Zagreb-Split Highway.
"I am pleased to see the completion of this monumental seven-year project, and am proud of the strong support of U.S. financial institutions and the extensive collaboration between American and Croatian construction companies."
The United States Export Import Bank guaranteed $303.7 million of the construction costs, JP Morgan Chase Bank financed $250 million in 2003 and provided a bridge loan of $50 million in 1998, and the U.S. Overseas Private Investment Corporation (OPIC) provided political risk insurance for the JP Morgan Chase loan.
Overall, the U.S. company, Bechtel, and its Turkish partner completed its 156.7 km portion of the highway a year ahead of schedule, and employed 3,200 people (including 2,500 Croatians) during the peak construction period.
"We are gratified that U.S. experience and expertise contributed to this great day for Croatia," stated Ambassador Frank.