„Serbian Railways“ and Russian State Railways defined at the meetings held last week in Belgrade all elements regarding the Contract on Russian State Loan realization in the amount of $800 million for Serbian Railways infrastructure and rolling stock modernization.

Serbian Railways experts and Russian Railways companies in charge of realization of this venture „RDŽ Internešenel“, confirmed with their signatures that General Contract on loan realization in the amount of $800 million is completely harmonized and ready for signing.

The harmonized General Contract envisages that the modernization of the line Stara Pazova – Novi Sad shall be financed from the Russian loan. Russian Railways representatives emphasized that they agree that the projects, chosen by Serbian Railways, can be financed from the loan and in accordance with that railway line Stara Pazova – Novi Sad can be also modernized.

Apart from modernization of railway line Stara Pazova – Novi Sad, as it was planned before in earlier stages, modernization and electrification of railway line Belgrade – Pančevo, reconstruction of 6 sections on Corridor X in the total length of 111km, procurement of new DMUs as well as the reconstruction of Serbian part of railway line Belgrade-Bar are going to be financed from the Russian loan.

-I am extremely satisfied that we finished negotiations with Russian Railways representatives successfully and that we harmonized all details necessary for the signing of General Contract on Loan realization in the amount of $800 million for modernization of Serbian Railways. Serbia and Serbian people are eagerly expecting the beginning of intensive construction works in our country. We are looking forward to see the actual beginning of the Russian loan realization as soon as possible, and construction works could start as early as June, – said “Serbian Railways” Director General Dragoljub Simonović, during the conversations with Sergey Pavlov, Russian Railways „RDŽ Internešenel“ Director General in charge of realization of the loan in our country.

Simonović emphasized that for Serbian Railways modernization of Corridor X is an absolute priority and that expert opinion of “Serbian Railways” that the line Stara Pazova – Novi Sad should be also financed from the Russian Loan.

Sergey Pavlov, Russian Railways „RDŽ Internešenel“ Director General, expressed his pleasure regarding the successfully completed negotiations and announced that General Contract will be signed in the next period.

Many technical and organizational, which are significant for the successful realization of the whole venture, were also analyzed with Russian partners.