Skopje, 25 July 2024 (MIA) - Chinese company "Sinohydro", the contractor of the Kichevo-Ohrid motorway, has withdrawn the arbitration procedure as a result of the arguments and hard work of the Government over the past month, said Prime Minister Hristijan Mickoski on Thursday.

Mickoski said a sub-contractor of Sinohydro had initiated an arbitration procedure against the company, which in turn initiated an arbitration procedure against the state.

"There was a threat of spending a minimum of EUR 50 million of taxpayers' money, which will now be available for businesses and capital investments," said Mickoski.

According to him, the subcontractor was faced with unresolved property issues.

"This is a complex process that we have gotten out of without being subject to penalties," noted Mickoski.