The Serbian government has unveiled plans to launch a high speed rail connection between the country’s capital city Belgrade and Budapest, the capital of Hungary, in cooperation with China.
A working group from the state-run Chinese Development Bank will arrive in Belgrade in September to discuss a partnership between Serbia and China on the project.
To accompany the latest investment, Serbia is aiming to establish a free economic zone which will be linked with the railway.
The construction of the designed rail link is expected to be completed within three years.
The Chinese Development Bank, which will provide financing for the rail project, is scheduled to sign an investment agreement with the National Bank of Serbia in December 2014.
Source: Railway Bulletin