Financing agreements for the waste management public-private partnership project in Vinča, Belgrade, were signed last week. The project has total investment size estimated at approximately EUR 350 million, envisaged to be financed by equity and non-recourse debt from IFIs – EBRD, IFC and OeEB. This is one of the largest and certainly the most complex project financing schemes in Serbia up to date. It is supposed to resolve the environmental hazard caused by one of the largest dump sites in Europe. Vinča landfill currently covers the area of 70 hectares and is considered to be one of the greatest pollutants in the city of Belgrade, since the facility has no sanitary, lining, gas collection and leachate treatment equipment. In its current state, Vinča landfill is a dangerous health hazard for the residents of Serbian capital who witnessed several polluting accidents in the recent past. The project involves development of the new landfill, remediation and closure of the existing one, construction and operation of the incineration plant and development of ancillary infrastructure.
BDK Advokati, alongside Clifford Chance as the international legal advisor, advised EBRD, IFC and OeEB on the project.
BDK Advokati team on the project was led by senior partner Dragoljub Cibulić and also involved senior associate from BDK’s finance team Dragoljub Sretenović, as well as partner Milan Dakić, and associates Djordje Zejak and Igor Matić.