Serbia and Russian Railways will sign a preliminary agreement on three rail projects for the Balkan country supported by a $800 million loan from Russia.
The agreements for upgrading the Belgrade-Pancevo railroad, building new tracks between Valjevo and Loznica in western Serbia and purchasing Russian-made diesel engines will be signed this week during a visit by the delegation of OAO Russian Railways, Serbia’s Infrastructure Ministry said in an e-mailed statement.
The $800 million loan for Serbian rail infrastructure, negotiated by presidents Dmitry Medvedev and Boris Tadic in 2009, is also expected to support reconstruction of Serbia’s rail link to the port city of Bar in neighboring Montenegro, and completion of a new rail station in Belgrade, the ministry said.
Source;bloomberg
