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Russian Railways Expects First Contracts in Serbia by August

OAO Russian Railways said it expects to sign its first contracts in Serbia in August as part of an $800 million loan program for Serbian rail infrastructure.

The Russian company will deliver equipment worth more than half of the credit amount that the Russian government pledged for upgrading about 300 kilometers (180 miles) of tracks and junctions in the Balkan country, Serbian Infrastructure Minister Milutin Mrkonjic said today after meeting in Belgrade with Russian Railway’s Chief Executive Officer Vladimir Yakunin.