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Russian loan agreement to be signed on May 22

MOKRA GORA – The Serbian and Russian Railways will sign in Belgrade on May 22 an agreement on a USD 800 million Russian loan to help Serbia’s railway modernization, Serbian Railways General Director Dragoljub Simonovic and Russian Railways official Mansurbek Sultanov said Friday.

Simonovic said that Annex I for the execution of works on the second track of the Belgrade-Pancevo railway route will be signed together with this umbrella agreement. He said that the works on the section could begin as early as in June, adding that works on the railway Corridor 10 section from Ruma to Golubinci should also begin soon.

Sultanov said that the agreement includes everything that is planned to be financed by the Russian loan, including the Belgrade-Pancevo works, construction of six railway Corridor 10 sections in the total length of about 110 kilometers, construction of a Stara Pazova – Novi Sad railway line, reconstruction of the Belgrade – Bar section through Serbia and purchase of 26 new diesel trains from Russia.

The Russian Railways representative said that Serbia will participate in the realization of these projects with an additional 15 percent, so that the entire investment will total around USD 940 million. The announcement was made before the beginning of the First International Railway Business Forum organized in Mokra Gora, western Serbia, and taking place on April 26-28. Tanjug is the event’s media sponsor.

The forum, titled “Modernization and Restructuring of Serbian Railways,” is bringing together representatives of more than one hundred firms, state institutions and local and international organizations.

The Serbian railways general director said that the forum participants will discuss plans for accelerated development of Serbian railway infrastructure and ways to better utilize international loans and step up the projects’ implementation.

Source: Opens external link in new windowwww.inserbia.info

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