More investment news from emerging Europe: Serbia has signed a €943 million deal with China Railway International (CRI) and China Communications Construction Company (CCCC) to overhaul the 108.1km Novi Sad-Subotica section of the network linking Belgrade with Budapest.
Expected to begin in 2019, the project will help increase freight traffic along the Belgrade-Budapest railway line. The contract was signed at the seventh summit of the heads of government of China and Central and Eastern European countries (CEEC), also known as ‘16+1’.
CRI and CCCC are also the main contractors for the overhaul of the Belgrade-Stara Pazova section of the track, part of the pan-European transport corridor X.