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Protocol on release of Russian loan for Serbian railways in instalments signed

16. April 2011. | 12:26

Source: Emg.rs

Minister of Infrastructure and Energy Milutin Mrkonjic and President of the Russian Railways Vladimir Ivanovich Yakunin signed yesterday in Belgrade the Protocol on release of an $800 million Russian loan for the Serbian railways in instalments.

Minister of Infrastructure and Energy Milutin Mrkonjic and President of the Russian Railways Vladimir Ivanovich Yakunin signed yesterday in Belgrade the Protocol on release of an $800 million Russian loan for the Serbian railways in instalments.

After the signing of the protocol, Yakunin told reporters that it was agreed to supplement by 20 May the project documentation for the second track of the Belgrade–Pancevo railroad, which is part of the Belgrade railway junction, and to sign a contractor agreement within next three months.

He explained that the general plan is to invest €182.5 million from the Russian loan in Belgrade railway hub, of which €45 million in the Belgrade–Pancevo railroad, €29 million in technical and passenger station “Zemun” and €108.5 million in the station “Belgrade Centre”.

The construction of the Valjevo–Loznica railroad will follow, for which €276 million will be set aside, and the reconstruction of the Belgrade–Bar railroad through Serbia, i.e. to Vrbnice, which will be financed with € 200 million.

Yakunin said that it was also agreed today that the Russian side assist financially the completion of the project with €6 million to €7 million.

The head of the Russian Railways stated that terms of the loan between the Serbian and Russian finance ministries will then be agreed upon.

Mrkonjic stressed that an important step was made today, adding that there will be enough work for the Serbian construction sector over the upcoming period.

He underlined that the submitted projects are among the crucial ones for Serbia’s railway traffic, and thanked Russia for their assistance.

I am convinced that the realisation of the projects, in which Serbian and Russian firms will participate, will begin within the scheduled period and that this will be one of the more successful loan arrangements with Russia, Mrkonjic outlined, adding that works on the Belgrade railway hub will first be launched.

Russian Ambassador to Serbia Alexander Konuzin said that agreement has been reached today as to the manner for the realisation of projects that could begin during 2011.

Director General of Zeleznice Srbije Milovan Markovic stressed the importance of the fact that the Russian loan will be made use of in stages, thanks to which option works on certain projects will begin quite promptly.

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