BELGRADE (Serbia), June 6 (SeeNews) – Serbia plans to invest 550 million euro ($618 million) in the reconstruction of the Velika Plana-Nis railway line, the infrastructure ministry has said.
The government has signed a memorandum of understanding with state-owned company Infrastruktura Zeleznice Srbije for the preparation of the project documentation for the reconstruction of the 111 km-long railway line, the ministry said in a statement on Wednesday.
"The preparation of project documentation is a serious task because it affects everything that happens to the project later on, the speed and efficiency of its execution," infrastructure minister Zorana Mihajlovic said.
The drafting of project documentation is on the list of 15 projects co-financed by the EU's Project Preparation Facility (PPF) which has a total value of 21 million euro for Serbia. A total of 19.7 million euro of the funding represents an EU grant, while the remainder is provided by the Serbian government.
The potential total investment value of the 15 projects to be supported by PPF is 900 million euro.
($ = 0.889839 euro)