Serbia to start works on EUR 300mn railway project financed by Russian loan.

By bne IntelliNews November 29, 2011
Serbia will soon start the construction of a 68-kilometre railroad worth EUR 300mn that will be financed via a Russian loan, Infrastructure Minister Milutin Mrkonjic said. The railway line will stretch between Valjevo and Loznica, in the country's west, and will connect central Serbia with neighbouring Bosnia and Herzegovina. Serbia is wrapping up an agreement with Russia on a USD 800mn loan that will go for investment in the railway infrastructure and the Valjevo-Loznica line is a priority, Mrkonijc was quoted as saying in a press release on the town of Valjevo's website. He added some works on the line have already been done and construction will be renewed in the coming month. Russian and Serbian companies are expected to work on the project. The line will accommodate train speed of 120 kilometres per hour.

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