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Annex signed to Russia’s USD 800mln Serbian Railways loan - Serbia Business

Annex signed to Russia’s USD 800mln Serbian Railways loan

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The Serbian Railways company and Russia’s RZD International have signed an annex to a Russian loan worth a total of USD 800 million.

The annex covers the building of a second track on the 40-kilometer long Stara Pazova-Novi Sad stretch of railway, and modernization of the existing track. The value of these works will be USD 338 million.

The Stara Pazova-Novi Sad stretch is a part of the Belgrade-Budapest line, where passenger trains will travel at speeds up to 200 kilometers per hour.

Works are expected to start in the first quarter of 2017.

The contract was signed at the Serbian government headquarters by Dusan Garibovic, acting director of Serbian Railways Infrastructure, and RZD International President Sergei Pavlov.

Serbian Deputy PM and Minister of Construction, Infrastructure and Transport Zorana Mihajlovic attended the signing, as did First Vice-President of Russian Railways Aleksandr Misharin.

Mihajlovic held a meeting with the Russian delegation afterwards, and then headed to Vreoci, southwest of Belgrade, for the start of reconstruction works on the stretch of the Belgrade-Bar railway line from Resnik to Valjevo – also financed from the Russian loan.

Sourceč B92