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.
