The European Bank for Reconstruction and Development (EBRD) said on Friday Serbian state-owned rolling stock maintenance firm Srbija Voz is inviting tenders for the overhaul and modernisation of five electric multiple train set units (EMUs).
Srbija Voz will use the part of the proceeds of a loan from the EBRD towards the security of costs for Track Rehabilitation Project, the lender said in a statement.
The bidding deadline is July 25, the EBRD said.
In November, the EBRD said it reallocated of an existing sovereign guaranteed loan of 95 million euro ($106.6 million) to JSC Serbian Railways, following a decision by the Serbian government to unbundle the vertically integrated group.
In this way, a total of 3.5 million euro of the loan was assigned to Srbija Voz.
