The ETCS-equipped locomotives will be assembled at Siemens’ Munich Allach plant and are due to be delivered by the end of March 2019.

The order is being financed through a loan from the European Bank for Reconstruction and Development (EBRD).

Serbia Cargo acting director general Mr Dušan Garibović says the company is planning to invest €50m over the next four to five years in the overhaul of its diesel and electric locomotives.