China backs Serbian railway modernisation
SERBIA: China Railway International, China Communications Construction Co and Serbia’s Minister of Construction, Transport & Infrastructure Zorana Mihajlović signed a US$319m agreement on November 5 for the modernisation of the 34·5 km Beograd – Stara Pazova section of the Beograd – Budapest route.
Under the terms of the agreement, local companies would be able to bid for up to 46% of the work by value.
A memorandum of understanding was also signed with China EximBank for the provision of a loan to finance the planned modernisation of the entire 184 km Serbian section of the Beograd – Budapest route. This is part of a project to upgrade the 350 km corridor to permit 200 km/h operation and provide a 3 h journey time between the capitals.