China Road and Bridge Corporation (CRBC) and Serbia signed a contract worth 175.5 million euro ($194.1 million) under which the Chinese firm will build in the northern city of Novi Sad a bridge over the Danube river and a bypass road, the infrastructure ministry said.

CRBC will build a 2.4-kilometre section comprising a bridge, a roundabout, and a bypass road linking the bridge with the Fruskogorski Corridor, the infrastructure ministry said in a statement on Saturday.

In April 2021, the infrastructure ministry signed a memorandum of understanding with CRBC for the project. At the time it said the price of the construction works would be 130 million euro.

Three bridges currently span the Danube in Novi Sad: Liberty Bridge, Varadin Bridge and Zezelj Bridge.