February 25 (SeeNews) - Serbian state-owned company Infrastruktura Zeleznice Srbije plans to invest 5 billion dinars ($48 million/42.3 million euro) in an overhaul of a railway line linking Nis to Zajecar in April, the country's government said on Monday.
The project is expected to be completed in the summer of 2020, infrastructure minister Zorana Mihajlovic said during an official ceremony for the launch of the works, as quoted in a statement by the Serbian government.
The Serbian government plans to provide financing for the reconstruction of railway lines with a total length of 300 kilometres this year, Mihajlovic also said.
The reconstruction of the 108 km line, including 32 bridges, 36 tunnels and 90 crossings, is part of a project aiming to improve the railway infrastructure in eastern Serbia and its connection to Corridor X, Infrastruktura Zeleznice Srbije said in December.
Infrastruktura ZelezniceSrbije was established as a joint stock company in 2015 as part of a reorganisation programme implemented in railway operator Zeleznice Srbije which saw the uncoupling of the different sectors into separate companies.
(1 euro = 118.186 dinars)