Serbia to sign €230mn deal with Russia’s RZD on railway upgrade projects

Serbia to sign €230mn deal with Russia’s RZD on railway upgrade projects
By bne IntelliNews January 14, 2019

Serbia’s railway infrastructure company and Russia’s RZD International will sign a contract worth €230mn for three railway upgrade projects during the visit of President Vladimir Putin to Belgrade, the Serbian government said in a statement on January 15.

RZD International, a subsidiary of the Russian state-owned railways operator, is already working on several projects in Serbia.

The new deal is expected to concren the design and implementation of three projects - the electrification of the Stara Pazova - Novi Sad railway section, construction of a modern dispatch centre, as well as continuing with the overhaul of the section from Valjevo to Uzice, part of the railway line linking Belgrade to the Montenegrin port of Bar.

In October, Serbia announced it was in talks for a $500mn loan from Russia that will be used to fund railway projects, including continuing the overhaul of the Belgrade-Bar railway line and completing the reconstruction works on the Stara Pazova-Novi Sad line.

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