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The Government of the Republic of Serbia

In the service of citizens

First tranche of loan to railway vehicle producers approved

Belgrade, 10 August 2009

The Serbian Ministry of Economy and Regional Development stated today that their expert group has approved the first tranche of a loan for the producers of railway vehicles, amounting to 30% of the total value of contracts signed with the railway company Zeleznice Srbije.

According to the statement issued by the Ministry, a sum of nearly RSD 500 million has been paid to the producers as part of the programme for encouraging the production and renovation of railway vehicles in Serbia.

The Serbian government adopted the programme in July and allocated RSD 2.1 billion for supporting eight producers. The funds will also finance the reconstruction and repair of 12 locomotives, 609 goods and passenger wagons and the production of 85 new goods wagons for Zeleznice Srbije. Over 2,250 workers from the railway vehicle industry will be employed on these projects.

Eight factories in Kraljevo, Smederevo, Smederevska Palanka, Subotica, Nis and Cupria are included in the programme.

The funds approved at present are for six of the eight rail vehicle producers. The factory Gosa from Smederevska Palanka can expect the transfer of funds after an agreement is signed with Zeleznice Srbije concerning repair work, while Bratstvo from Subotica will be paid after the announced ownership and administrative changes within the company take place.