"Serbian Railways" to invest few hundreds of millions of Euros in reconstruction of railway tracks and procurement of trains in 2009

The Director General of “Serbian Railways”, Milovan Marković, announced that few hundreds of millions of Euros from international loans should be invested in reconstruction of railway tracks and procurement of trains in 2009.

The budget of Serbia for year 2009 anticipates allotment of guarantees for loans for "Serbian Railways” in total amount of 342m EUR, as well as 80m USD for reconstruction and modernization of railway tracks and procurement of cars and locomotives.

- The Ministry of Finance and the Ministry of Infrastructure will help us do our best to shorten the loan granting procedures – he said and added that the procedures for approval of loans sometimes lasted for few years.

- "Serbian Railways” does not have enough trains and that is why some lines are cancelled – he said and added that, in most of the cases, the lines were cancelled only temporary, until the cars were returned from the service.

As he said, "Serbian Railways" will try to analyze the situation in the company in 2009 and to make the plan for transformation in association with the Government of Serbia.