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BELGRADE (Serbia), July 9 (SeeNews) - Serbia signed a memorandum of understanding (MoU) with China Road and Bridge Corporation (CRBC) for the overhaul of Belgrade-Nis railway line, Serbian infrastructure minister Zorana Mihajlovic said.
A total of 600 million euro ($706.4 million) will be invested in the project for the reconstruction of the railway line, Mihajlovic said in a statement on Friday.
The project will have a positive impact on the transport sector of the entire region of Southeast Europe, as it will improve the link between Greece's Aegean port of Piraeus and Hungary's capital Budapest, Mihajlovic added.
The MoU was signed on the sidelines of the seventh summit of heads of government of China and Central and Eastern European countries (CEEC), also known as the 16+1 format, held in Bulgaria's capital Sofia on July 6 and 7.
($ = 0.849339 euro)