Railways chief announces "modernization"

Serbia needs some EUR 4.6bn to modernize 770 kilometers of the Corridor 10 railroad, Serbian Railways General Director Milovan Markovic says. "The reconstruction and modernization of that part means modern two-track railroads for mixed passenger and freight traffic, with projected speeds of 160 to 200 kmph," he told Beta news agency. Railways chief announces "modernization" The first phase of the reconstruction, expected to take four years, will require investment of EUR 1.1bn. Serbian Railways have so far used EIB, EBRD and World Bank funds to renew this infrastructure, Markovic explained. Meanwhile, according to him, the Russian state railways company said it was interested in investing in Serbia. "We spoke with the representatives of the Russian Railways who are interested in investing in Serbia's railroad infrastructure and acquisition of vehicles," Markovic said, but did not specify the amount of investment or the timeframe for it. He reminded of the recently signed memorandum of understanding between Serbia, Italy and Montenegro that would regulate the reconstruction of the Belgrade-Bar line. "This means cooperation in making a feasibility study, and later financing that railroad, in a way that would satisfy the needs of Italian economy's combined transport, that wishes to take the shortest road via the port of Bar and the Belgrade-Bar line, to reach Corridor 10." Markovic said that estimates show the investment could be worth some EUR 350mn. He stressed that plans on when the project might start and finish would be contained in a detailed feasibility study. Neither the study nor the project design have yet been produced. Serbian Railways data shows that the country's railroad network covers 3,809 kilometers, is more than one century old, with 55 percent of it built in the 19th century. Passenger cars in Serbian Railways trains are 28 years old on average, while losses suffered by this public company due to a lack of freight cars in the past three years amount to about EUR 90mn.

Railways chief announces "modernization"

The first phase of the reconstruction, expected to take four years, will require investment of EUR 1.1bn.

Serbian Railways have so far used EIB, EBRD and World Bank funds to renew this infrastructure, Marković explained.

Meanwhile, according to him, the Russian state railways company said it was interested in investing in Serbia.

"We spoke with the representatives of the Russian Railways who are interested in investing in Serbia's railroad infrastructure and acquisition of vehicles," Marković said, but did not specify the amount of investment or the timeframe for it.

He reminded of the recently signed memorandum of understanding between Serbia, Italy and Montenegro that would regulate the reconstruction of the Belgrade-Bar line.

"This means cooperation in making a feasibility study, and later financing that railroad, in a way that would satisfy the needs of Italian economy's combined transport, that wishes to take the shortest road via the port of Bar and the Belgrade-Bar line, to reach Corridor 10."

Marković said that estimates show the investment could be worth some EUR 350mn.

He stressed that plans on when the project might start and finish would be contained in a detailed feasibility study. Neither the study nor the project design have yet been produced.

Serbian Railways data shows that the country's railroad network covers 3,809 kilometers, is more than one century old, with 55 percent of it built in the 19th century.

Passenger cars in Serbian Railways trains are 28 years old on average, while losses suffered by this public company due to a lack of freight cars in the past three years amount to about EUR 90mn.