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Serbia to invest $200M in modernising Belgrade-Bar rail link

Published: Thu, 2015-03-19 09:00

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New rail upgrade project in Serbia

Serbian Deputy Prime Minister and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic has announced plans by the government to launch the modernisation works on the Belgrade-Bar rail link by the end of this year. The project will be covered by an investment loan from Russia totalling some $200 million.

With the planned investment, the government is aiming to overhaul about 200 km of track on Serbian territory, the country’s government said in a statement. Mihajlovic said that, under the plan, completing the modernisation works will take at least a year.

According to the deputy prime minister, the latest project is expected to be launched in the fourth quarter this year, and that, once completed, the upgrade will significantly reduce the travelling time from Serbia to neighbouring Montenegro.

Other major rail investments eyed by the Serbian government include launching a high-speed rail connection between Belgrade and Hungary’s capital Budapest. The project is to be carried out in cooperation with China, with the Chinese Development Bank designed to provide financing for the rail investment.

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