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BELGRADE (Serbia), July 17 (SeeNews) - Russian railway engineering company RZD International has completed the reconstruction of the Resnik-Vreoci section of the railway line connecting Serbia's capital Belgrade to Montenegro's port of Bar, the Serbian government said on Monday.
The reconstruction of the 35 km-long stretch represents the first of the two phases of a project for the overhaul of the 77 km-long Resnik-Valjevo railway section, the government said in a statement.
The renovation of the entire Resnik-Valjevo section is planned to be completed by the middle of November, the government added. The works on the entire section are valued at $80 million (69.7 million euro), with Serbia's share in the investment equal to 15% of the total.
The project is financed with a $800 million loan extended by Russia to state-run railway operator Zeleznice Srbije in January 2013.
Serbia plans to launch, in the next year or two, the complete reconstruction of the railway line to Bar on the country's territory valued at about 220 million euro.