Russia and Serbia have signed a Protocol amending the export credit agreement that involves the extending of the USD 800 million credit line for railway projects.
The credit granted by Russia was extended for an extra 4 years until December 31, 2021. Extension of the credit line allows for starting the most ambitious stage of the project – reconstruction of the Stara Pazova – Novy Sad section of the Belgrade – Budapest railway line.
The USD 941 million project is being implemented by RZD International since 2014 and includes construction of modern railway infrastructure with leading edge safety standards, increasing train speeds from 30 to 120 km/h and in some sections to 200 km/h.
Delivery of 27 new Russian made DMUs, the last three of which have already arrived to Serbia, is also a part of the deal.
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