No obstacles to realization of Russian loan
There are no more obstacles to the realization of Russia's USD 800mn loan dedicated to the railways, Serbian Railways Director Milovan Marković has said.
Sunday, 26.08.2012.
14:05
BELGRADE There are no more obstacles to the realization of Russia's USD 800mn loan dedicated to the railways, Serbian Railways Director Milovan Markovic has said. He announced that the works on the railway between Belgrade and Pancevo would start on February 1. No obstacles to realization of Russian loan “Now, it is quite certain that the planned projects aimed at modernizing rail infrastructure will be realized,” Markovic told Tanjug. “The project documentation and all other things have been done in line with the agreement reached with the Russian partners,” Markovic said. The money would be used for building the second track and electrification of the Belgrade-Pancevo railway whose cost is estimated at EUR 50mn, the construction works on six high-speed (160 kilometers per hour) sections of Corridor 10 worth EUR 55mn, the purchase of new Russian diesel trains - EUR 100mn, continuation of the construction works on the railway between Valjevo and Loznica - EUR 275mn and reconstruction of the Serbian part of the railway connecting Belgrade and Montenegrin port of Bar worth EUR 200mn. “The projects are expected to be finished in five years, and Serbia will participate in the project with 15 percent of the overall value of works, i.e. USD 120mn,” Markovic pointed out. He recalled that the terms of loan had been agreed and that the contract on that arrangement should be ratified in the Serbian parliament. Tanjug
No obstacles to realization of Russian loan
“Now, it is quite certain that the planned projects aimed at modernizing rail infrastructure will be realized,” Marković told Tanjug.“The project documentation and all other things have been done in line with the agreement reached with the Russian partners,” Marković said.
The money would be used for building the second track and electrification of the Belgrade-Pančevo railway whose cost is estimated at EUR 50mn, the construction works on six high-speed (160 kilometers per hour) sections of Corridor 10 worth EUR 55mn, the purchase of new Russian diesel trains - EUR 100mn, continuation of the construction works on the railway between Valjevo and Loznica - EUR 275mn and reconstruction of the Serbian part of the railway connecting Belgrade and Montenegrin port of Bar worth EUR 200mn.
“The projects are expected to be finished in five years, and Serbia will participate in the project with 15 percent of the overall value of works, i.e. USD 120mn,” Marković pointed out.
He recalled that the terms of loan had been agreed and that the contract on that arrangement should be ratified in the Serbian parliament.
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