Business contract for Serbian section of Hungary-Serbia Railway is signed by CCCC consortium, Li Keqiang, Central and Eastern European leaders witness contract signing

Source:CRBCTime:2016-11-07
On the afternoon of November 5, the Summit of China and Central and Eastern European Countries was held in Riga, capital of Latvia. At the summit, witnessed by Chinese Premier Li Keqiang and leaders of 16 Central and Eastern European countries including Serbian Prime Minister Aleksandar Vucic, on behalf of the Chinese consortium, CCCC Vice President Sun Ziyu and the head of China Railway International Group (CRIG) signed a business contract with the Serbian government for the first section of Hungary-Serbia Railway in Serbia, marking that the China-Hungary-Serbia cooperative project of Hungary-Serbia Railway has entered the implementation stage.
Stretching from Budapest, capital of Hungary and Belgrade, capital of Serbia, the project is an important channel among Pan-European corridors. With a full length of 350 kilometers and a designed speed of 200km/h, the line is a passenger-cargo electric railway, will use Chinese technologies and equipment, and will accord with the European Technical Specification for Interoperability. After its completion, the travel time between Budapest and Belgrade will reduce from eight hours to less than three hours. The Serbian section of Hungary-Serbia Railway will be undertaken by the consortium of CRIG and CCCC, and financed by the Export-Import Bank of China.Hungary-Serbia Railway is a major project implemented under the "Belt and Road" strategy with the great attention of the Chinese premier and his Hungarian and Serbian counterparts, is an early result of the "Belt and Road" strategy, as well as a flagship project in China's cooperation with Central and Eastern Europe. The project will further upgrade existing Hungary-Serbia Railway, build a land and sea express line in Central Europe, effectively promote regional development, benefit locals, accommodate the interests of different sides, and further deepen China's cooperation with Central and Eastern Europe.
Hungary-Serbia Railway is the first railway constructed by Chinese enterprises in Europe. The project will open the door to the European railway market for CCCC and other Chinese enterprises.