Serbian Railways Kosovo property worth 206mn euros

The company says the value of its property in the southern province amounts to 206 million euros.

Izvor: FoNet, Ekonomist Online

Monday, 19.02.2007.

16:03

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Serbian Railways Kosovo property worth 206mn euros

Tadić added that the true market value of the company’s Kosovo-based assets was much higher and that the UNMIK administration in the province was organizing railway traffic using infrastructure 100 percent owned by the Serbian Railways, as well as 99 percent of vehicles belonging to the company.

Although not in charge of management of its Kosovo property for the past eight years, Serbian Railways continued with payments of loans secured by the former Railway and Transport Organization of Priština in the 1980’s.

“There are two loans toward the World Bank worth $ 33.2 million dollars, while the one secured from the Paris Club amounts to 4.2 million Canadian dollars. We have met our obligations toward Eurofirm by the end of 2005, making a payment of 1.6 Swiss franks, while a further 5.5 million will be due by the end of this year. Participation and membership in international organizations cost a further 200,000 euros”, Tadić explained.

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