Talks on financial terms of the Russian USD 800 million loan for the development of Serbia's railway infrastructure should start by autumn the latest, while first works should be conducted in the course of the year, Serbian Assistant Minister Zoran Cirovic stated on Sunday.

Competent bodies are working on the project and a part of the completed project documentation has already been submitted to Russian partners, Tanjug learnt from Cirovic, who is also the head of negotiating team for the realisation of the Russian loan.

The Russian loan should be used for funding the completion of construction works on the Valjevo-Loznica railroad, construction of the Belgrade railway junction and reconstruction of the section to the border with Montenegro of the Belgrade-Bar railway.

Cirovic noted that parts of all three projects prepared in the past have been delivered to Russian officials, and added that the financial terms of the arrangement would be discussed with partners from Moscow only after Serbia completes all the necessary documentation.

Cirovic said that the Serbian Ministry of Infrastructure and Energy and Serbian Railways are in charge of this task.