This follows the acceptance on December 18 of a $US 800m export credit by Russia's Ministry of Finance to finance the $US 941.2m project.

The project involves for the following work:

  • construction and electrification of a 16km-long second track on the Belgrade - Pancevo line
  • reconstruction of six sections totalling 112km of Pan-European Corridor X
  • track upgrading and construction of a second track on the new 44km Stara Pazova - Novi Sad line
  • reconstruction of the 200km Belgrade - Vrbnitsa section of the Belgrade - Bar line, and
  • the supply of diesel trains manufactured by Metrovagonmash, Russia.