Transportation

Serbia will invest 7.7 billion U.S. dollars to modernize railway infrastructure

Seetao 2021.09.15
  • The investment will be used to repair about 1,000 kilometers of railway lines in the country

Serbia will invest about 7.7 billion U.S. dollars (6.5 billion euros) to modernize and repair the country’s railway infrastructure.

The move was announced by Serbian Prime Minister Anna Brnabic at the opening ceremony of the Western Balkan Railway Summit in 2021. This investment will support the overhaul of approximately 1,000 kilometers of railway lines and promote connectivity between the country and neighboring countries. Prime Minister Burnabic added that the government is preparing project documents for the high-speed railway project between Belgrade and Nice. The project will mainly be developed using EU grants.

The Nis-Dimitrovgrad and Subotica-Szeged railway lines are also under planning, and construction is expected to begin soon. The 2021 Western Balkan Railway Summit will be held in Belgrade, the capital of Serbia. The event was organized by the European Investment Bank, the European Bank for Reconstruction and Development (EBRD) and an international organization called the Transport Community.

The European Bank for Reconstruction and Development has called for more investment in the railway sector in the Western Balkans to strengthen connectivity and respond to climate change emergencies. The financial institution has invested nearly 1 billion euros in the railway sector in the Western Balkans. Nandita Parshad, Managing Director of the Sustainable Infrastructure Group of the European Bank for Reconstruction and Development, said: “Railway not only plays a key role in any well-balanced transportation system, it is also the key to sustainable transportation, and it also plays a key role in responding to today’s climate emergencies. Plays a key role."

Keywords: international engineering news, foreign engineering project information

"We are determined to increase investment and mobilize the private sector. Of course, we will continue to provide policy and technical assistance support to promote the development of the railway sector in the region." Earlier in 2021, the World Bank approved a US$62.5 million Loans to support Serbia’s railway modernization project.Editor/Baohongying

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