Serbia will invest USD 40 million by the end of 2017 in the project for the overhaul of the Belgrade-Stara Pazova railway section of the railway line connecting Serbia’s capital to Budapest, according to Serbian Prime Minister Ana Brnabic. Works on the project will start in November.
“A total of SUD 40 million will be paid to the companies carrying out the works, which will also have some effect on the Gross Domestic Product (GDP),” Ana Brnabic said.
In addition, state-run railway operator Zeleznice Srbije has secured financing of 250 million dinars (USD 2.5 million) with government support to pay the fee for felling woods as part of the project.
The overhaul of the Belgrade-Stara Pazova section will be funded with a $297.6 million loan from the Export-Import Bank of China. The loan will be repaid in 20 years, including a five-year grace period.
Share on:
