-“Serbian Railways” are ready and interested in realizing EUR 300 million worth modernization projects financed from the loan of EBRD as soon as possible. Common interest of Serbian Railways and the international finance institution is to expedite all procedures, to use funds as soon as possible and to begin with realization of several projects of infrastructure and rolling stock modernization.

This was concluded today during the meeting which was held in Belgrade by “Serbian Railways” Director General

Dragoljub Simonović with new EBRD Director for Serbia, Matteo Patrone.

There is no time to waist for Serbian Railways, so we will begin projects of infrastructure and rolling stock modernization financed from the loan of EBRD as soon as we receive all necessary Bank approvals. As soon as early March we will be ready to begin overhaul of three sections on Corridor 10 with total length of 64km – said Director General Dragoljub Simonović.
Matteo Patrone pointed out that Serbian Railways are one of the biggest and most significant partners of EBRD in Serbia.

During the meeting the current state of the projects financed from international loan of the financial institution, manners to expedite all procedures, and their realization as well as about other projects which are open for cooperation.

“Serbian Railways” will procure new EMUs from the EBRD loan in the amount of EUR 100 million (it is estimated that approx. twenty sets will be procured) and additional EUR 100 million will be spent for the procurement of rehabilitation material of 111km Corridor 10 line and for the new line maintenance machinery, as well as for procurement of new multi-system locomotives (it is estimated that approx. fifteen sets will be procured). Additional EUR 95 million is provided from the loan of the financial institution for modernization of Beograd – Rakovica – Resnik line, as well as for overhaul of 131km of Corridor 10 line from Beograd to Niš.

Activities that ought to be realized in the following period were also discussed and “Serbian Railways” showed interest for financing and construction of new double track line Stalać-Đunis from the EBRD loan in the next period.