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Construction of Belgrade-Budapest railway begins
Belgrade/Riga,
5 November 2016
Deputy Prime Minister and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic signed tonight in Riga a commercial contract to build the first section of Belgrade-Budapest fast railway and a memorandum on the financing of the entire project in the territory of Serbia.
The documents were signed in the presence of the prime ministers of Serbia and China, Aleksandar Vucic and Li Keqiang respectively.
Mihajlovic signed the commercial contract for the first phase of the project of construction of the Belgrade-Budapest fast railway, from Belgrade to Stara Pazova worth $319 million, at a central ceremony of the Summit of Heads of government of China and the 16 countries of Central and Eastern Europe with the Infrastructure Railways of Serbia and a consortium of Chinese companies China Railway International and China Communications Construction Company.
The signing of the commercial agreement and the Memorandum of Understanding with the Chinese Exim Bank on giving loan for the project of the Hungarian and Serbian railways in the territory if Serbia enables the start of construction of the railway for speeds up to 200 kilometres per hour, which will reduce travel time between the Serbian and Hungarian capital to less than three hours.
The contract envisages that in the construction of double-track railway from Belgrade to Stara Pazova which is 34.5 kilometres long, local companies can participate up to a maximum of 46 percent in the works and procurement of goods.
The Agreement on the introduction of a visa-free regime between Serbia and China was also signed at tonight’s ceremony, by First Deputy Prime Minister and Minister of Foreign Affairs Ivica Dacic on behalf of the Serbian government.
Earlier today, Mihajlovic had already signed in Riga two agreements and a memorandum with Chinese companies.
Mihajlovic signed the commercial contract for the first phase of the project of construction of the Belgrade-Budapest fast railway, from Belgrade to Stara Pazova worth $319 million, at a central ceremony of the Summit of Heads of government of China and the 16 countries of Central and Eastern Europe with the Infrastructure Railways of Serbia and a consortium of Chinese companies China Railway International and China Communications Construction Company.
The signing of the commercial agreement and the Memorandum of Understanding with the Chinese Exim Bank on giving loan for the project of the Hungarian and Serbian railways in the territory if Serbia enables the start of construction of the railway for speeds up to 200 kilometres per hour, which will reduce travel time between the Serbian and Hungarian capital to less than three hours.
The contract envisages that in the construction of double-track railway from Belgrade to Stara Pazova which is 34.5 kilometres long, local companies can participate up to a maximum of 46 percent in the works and procurement of goods.
The Agreement on the introduction of a visa-free regime between Serbia and China was also signed at tonight’s ceremony, by First Deputy Prime Minister and Minister of Foreign Affairs Ivica Dacic on behalf of the Serbian government.
Earlier today, Mihajlovic had already signed in Riga two agreements and a memorandum with Chinese companies.
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