The preferred bidder for a €1bn ($1.36bn) highway project in Montenegro has been named as Switzerland-based Solel Boneh International.

The 170km toll road will run from the Adriatic Sea port of Bar to Boljare on the Serbian border, according to Globes.

Montenegoro’s first public-private partnership project contract involves financing, planning, building and operating the toll road for 30 years.

Solel Boneh, a unit of Israeli firm Arison Holdings’s subsidiary Shikun u’Binui Holdings, will carry out the work along with a European partner.