The Istrian Y motorway is responsible for the connection of Istria with international motorways.
Istria attracts a great amount of tourists that decide to visit the country. Investments in Croatia and improvements easing the access to the region, are extremely important for the overall picture.
The extension of the concession to Bina-Istra until 2032 was notified by Croatia to European Commission in March this year.
On the 14th of June 2018, EC released:
“The European Commission has approved under EU State aid rules a Croatian plan to prolong the Istrian Y motorway concession agreement between Croatia and the company Bina-Istra.
This will allow €165 million of new investments to go ahead, while limiting distortions of competition.”
Commissioner Margrethe Vestager, said:
“The prolongation of the Croatian Y motorway concession will promote regional growth and investment, as well as enhancing citizens’ safety and reducing congestion.
Our decision will ensure that the motorway extension can be built, while limiting any potential distortions of competition.”
The project meets EU State requirements of infrastructure investments to stimulate regional economic growth, and facilitates the traffic, not only for locals but for tourists that are willing to visit the peninsula.
This concession will permit Bina-Istra to finance the works of a 28 km long, second carriageway on the north-eastern side of the motorway.
Investments in Croatia and especially in the Istrian region are always very welcome.
The improvement of the motorway eases the access for tourists to reach, affecting the infrastructure developments in the peninsula.
Since 2000 the increase of traffic in the region has been notable. As guests are mainly arriving by car, this change will directly benefit them.
Better roads and easier access, motivates and attracts more people to come back to visit the region, and spend money in the area.
Bina-Istra has also interest on financing local roads for the towns of Višnjan, Vodnjan, Pula and Pomer, encouraging companies to relocate, base their factories and their businesses from the capital to Istria.
How does it affect your investment in Croatia?
The infrastructure developments on the surroundings, only increases the value of your investment property in Croatia.
This kind of investment improves not only the access. With the access more traffic comes along, meaning more tourists spending their holidays in the region.
The construction of the extension is expected to begin in the autumn