November 27 (SeeNews) - Zeljeznice Republike Srpske [BANJ:ZERS-R-A], the railway operator of Bosnia's Serb Republic, has signed a deal with China Shandong International Economic & Technical Cooperation Group for reconstruction of the Banja Luka-Novi Grad railway line, the entity's road operatort Autoputevi RS said on Monday.
The railway line runs from the capital of the Serb Republic to the border with Croatia located in the Novi Grad municipality.
The deal was signed on the sidelines of the summit of the heads of the government of China and 16 central and eastern European (CEE) countries, or the 16+1 Summit, held in Budapest, Hungary, JP Autoputevi RS said in a statement.
According to local media reports, the estimated cost of the deal stands at 241 million euro ($288 million).
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other is the Federation.
($=0.836849 euro)