Serbia, Russia Sign $262Mln Contract On Modernization Of Serbian Railroads

Russian railroad company RZD International signed a contract worth 230 million euros ($262 million) with Serbia's Infrastrukture zeleznica Srbije to upgrade the latter's railroads, the press service of the Serbian government said Thursday

BELGRADE (UrduPoint News / Sputnik - 17th January, 2019) Russian railroad company RZD International signed a contract worth 230 million Euros ($262 million) with Serbia's Infrastrukture zeleznica Srbije to upgrade the latter's railroads, the press service of the Serbian government said Thursday.

The deal was signed in the presence of Serbian Minister of Construction, Transportation and Infrastructure Zorana Mihajlovic and RZD International CEO Sergey Pavlov.

The document envisions the construction of a single dispatch center for 127.

4 million euros, electrification of the Stara Pazova-Novi sad railroad section for 91.9 million euros, as well as the development of a project to rebuild 210 kilometers (131 miles) of lines running to Montenegro for 10.7 million euros.

According to Mihajlovic, Serbia was able to pay for projects to revamp Serbia's railways in the amount of one billion euros as well as renovate 205 kilometers of railroad lines over the past four years with the help of a Russian loan.