Serbian Railways to invest EUR 1.2 billion in projects

BELGRADE - Serbian Railways will invest EUR 1.2 billion in various projects over the next three years, Chairman of the Serbian Railways Board of Directors Zoran Andjelkovic announced on Tuesday and underscored that restructuring and break-up of the monopoly are essential for the strengthening of the railway system in Serbia and the region.

Opening the meeting on investments in the railway systems in South-East Europe, Andjelkovic said that the Serbian Railways company has for years lagged behind in terms of development and added that through the realisation of the announced projects, the company would give a significant contribution to the development of the railway system in South-East Europe which will also contribute to the region's economic development.

Nevertheless, he pointed to the need for restructuring of all railway companies in the region and expressed the expectation that this task would be completed in Serbia by the end of the year, by which time the passenger and freight traffic infrastructure need to be separated.

On top of that, the monopoly in the railway transport sector needs to be broken up, because this is the only way to achieve successful recovery of the Serbian Railways and strengthen the railway system, Andjelkovic said.

We need to enter the restructuring process with courage because it will contribute to better adjustment to the traffic policy of South-East Europe, Andjelkovic said addressing the participants of the international conference on investments in the railways systems in South-East Europe organised by the London-based Russell and Publishing in collaboration with the Serbian Railways and with the support by the International Union of Railways.

The list of projects which will...