Russian Railways and Serbian Railways have signed a General Agreement on the realisation of rail projects in the Republic of Serbia.
The document was signed by the President of JSC Russian Railways Vladimir Yakunin and the General Director of Serbian Railways Milovan Marković.
The Agreement involves the realisation of projects including the construction of a new single-track electrified railway line of the length 68 km between Valjevo and Loznica and reconstruction of the 200 km Serbian segment of railway between Belgrade and Bar.
The projects also include the reconstruction of 6 segments of 111 km of the Pan-European Corridor X railway along with the delivery of diesel trains.
The financing of the projects will be ‘effected in accordance with the Inter-Governmental Agreement between the Russian Federation and the Republic of Serbia, providing a credit in the amount of $800 million’.
Serbia is providing $120 million for the projects.
According to Milovan Marković, the agreement on credit arrangement is subject to ratification.
