MoU signed for EUR 1.5bn Serbian-Hungarian railway project

MoU signed for EUR 1.5bn Serbian-Hungarian railway project : Serbian and Hungarian railway officials signed on Friday a memorandum of understanding aimed at modernizing the line running from Belgrade to Budapest.

The value of the project is EUR 1.5 billion.

The document refers to the railway section of around 400 km, at which it will be possible to develop speeds of over 160 km/h.

This is a joint project of the two states, for which the funds should be secured through the Chinese loan that is available to central European countries.

Serbia’s Transport Minister Milutin Mrkonjić has said that the journey from Belgrade to Budapest now takes eight hours, underlining that “in two to three years’ time, after the project is completed, it will be possible to travel that distance in three to four hours.”

Serbian-Hungarian railway project

Source : B92

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