Russian state loan Contract in the amount of $800 million for “Serbian Railways” was signed today in Moscow.

The Contract was signed by Serbian Minister of Finance and Economy Mlađan Dinkić and Russian Minister of Finance Anton Siluanov.

The Contract on approving the state export loan on the railway infrastructure financing in Serbia implies that the loan should be used for construction and electrification of the second track on the railway line Beograd – Pančevo, construction of new electrified single track railway line Valjevo-Loznica, reconstruction of six sections of railway line along Corridor 10 that are 111km long, modernization of the railway line Beograd-Bar and procurement of new DMUs from the Russian manufacturer.

During the signing ceremony Minister Dinkić said that this agreement is very important for the infrastructure development in Serbia, because the railway road will be reconstructed on the most important international lines. Siluanov also said that this agreement will contribute to an intensive cooperation of the business men from these two countries.