Serbia to Start Railroad Upgrades With Russian Loan by Year-End
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Serbia’s first railroad project funded by an $800 million loan from Russia is to begin in the fourth quarter after years of negotiations, the state-owned rail company said.
Rebuilding a 15-kilometer (9-mile) stretch from Belgrade to Pancevo will be the first among five projects for which Russia pledged support, Zeleznice Srbije said in an e-mailed statement. The financing was initially agreed on by the two country’s presidents in 2009.