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The Government of the Republic of Serbia

In the service of citizens

Full renewal of JRB’s river fleet within five years

Belgrade, 28 December 2011

Minister of Economy and Regional Development Nebojsa Ciric today announced a new cycle of investments in the Yugoslav River Shipping (JRB) company worth €40–45 million.

Author: Tanjug

Following a meeting with JRB leadership and representatives of relevant unions, Ciric announced that the investments will be realised as of 2012, adding that the abovementioned funds will be invested over the next five years.

The Minister explained that one half will be secured by the JRB and the other by the state, stressing that the JRB is of strategic importance for the state and that the goal is for the company to retain its leading position.

The investment program, as he said, should enable JRB to fully restore the river fleet in the next five years and take the leading position not only in Serbia but also in the region.

The Yugoslav River Shipping has the capacity in terms of human resources and technology to fulfil this plan, Ciric underlined.

Acting Director of JRB Biljana Cvertkov specified that the funds will be invested in the repair of the existing fleet - ships and barges, in accordance with new regulations on the transport of liquid cargo which will come into force in 2017.

Cvertkov explained that the second part of the funds will be invested in the purchase of new fleet and new barges for transportation of liquid and dry cargo.