Serbia Cargo obtains EBRD loan for rolling stock acquisition

The European Bank for Reconstruction and Development (EBRD) will provide Serbia Cargo a EUR 43 million loan for the procurement of new locomotives, wagons and overhaul of freight wagons. Through the sovereign guaranteed loan, the bank is supporting the entire rolling stock procurement project.

The project will support both the development of the Serbian cargo railway transport sector through the modernisation of the Serbia Cargo fleet. It is expected to have a significant effect on the quality of cargo services, its competitiveness, useful life of the fleet and, ultimately, growth of rail cargo transportation in the country. By enabling the modal shift from road-based transport to cargo rail transportation and by replacing old inefficient rolling stock, the Project will bring a large environmental gains in terms of lowered carbon emissions.

In 2019, Serbia Cargo and Siemens Mobility signed a contract for the supply of 8 additional Vectron locomotives joining the other 8 Vectrons ordered in 2018. The contract is funded by a second EBRD-tranche and has a value of EUR 32 million.

According to company’s plans, the rolling stock renewal covers the procurement of 80 diesel and electric locomotives and 3000 rail cars of various types. Initially, the Serbian rail freight operator said it will invest more than EUR 50 million from its own fund to support the rolling stock procurement.

 


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