Credit contract on modernizing Serbian Railways

An umbrella contract to modernize Serbian Railways was signed at the Serbian government headquarters on Thursday and involves an USD 800 million Russian loan.

Izvor: Tanjug

Thursday, 23.05.2013.

19:47

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BELGRADE An umbrella contract to modernize Serbian Railways was signed at the Serbian government headquarters on Thursday and involves an USD 800 million Russian loan. The contract was signed by the state-owned company Zeleznice Srbije (Serbian Railways) Director Dragoljub Simonovic and Director of Russian Railways Sergei Pavlov. Prime Minister Ivica Dacic and Transport Minister Milutin Mrkonjic attended the signing. Credit contract on modernizing Serbian Railways Serbia will provide another USD 141 million for railway projects included in the contract. Around USD 100 million will be spent on purchasing Russian diesel trains, while the rest will go towards modernizing the infrastructure, including sections of the railway Corridor 10 and the Belgrade-Bar railroad. Dacic said the contract was not only an indicator of good cooperation between the two countries, but was also important for Serbia's development. The contract will be a strong development incentive for the Serbian economy, and not just its railway system, Dacic stressed, adding he was happy the contract was signed a day ahead of the signing of a strategic partnership agreement between Serbia and Russia, which will focus on security, defence, science, culture and other areas. Russian Railways President Vladimir Yakunin said he hoped the contract would help reform Zeleznice Srbije and Serbia itself. The deadline for the completion of infrastructure work is five years, he stated. The work on modernizing the Pancevo-Belgrade railroad and a section of Corridor 10 should start in September, he added. Sergei Pavlov and Dragoljub Simonovic sing the contract (Tanjug) Tanjug

Credit contract on modernizing Serbian Railways

Serbia will provide another USD 141 million for railway projects included in the contract.

Around USD 100 million will be spent on purchasing Russian diesel trains, while the rest will go towards modernizing the infrastructure, including sections of the railway Corridor 10 and the Belgrade-Bar railroad.

Dačić said the contract was not only an indicator of good cooperation between the two countries, but was also important for Serbia's development.

The contract will be a strong development incentive for the Serbian economy, and not just its railway system, Dačić stressed, adding he was happy the contract was signed a day ahead of the signing of a strategic partnership agreement between Serbia and Russia, which will focus on security, defence, science, culture and other areas.

Russian Railways President Vladimir Yakunin said he hoped the contract would help reform Zeleznice Srbije and Serbia itself.

The deadline for the completion of infrastructure work is five years, he stated.

The work on modernizing the Pančevo-Belgrade railroad and a section of Corridor 10 should start in September, he added.

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