EBRD provides loan of EUR 47 million for expansion of rail depot in Zemun – Agreement on first project phase signed

(From the signing of the agreement) The EBRD is providing loans totaling EUR 47 million to the Serbian railway passenger operator JSC Srbija Voz to finance the expansion and upgrade of a maintenance depot in Zemun on the outskirts of Belgrade.

As stated in a press release by the EBRD, the first portion of EUR 30 million was signed in Belgrade on December 7 by Finance Minister Dušan Vujovic and Acting General Director of Srbija Voz Jugoslav Jovic, on the Serbian side, and Director for Transport Sue Barrett and Director for Serbia Daniel Berg, on the EBRD side.

A second loan for the remainder is expected early in 2018.

(Future look of the complex) The upgrade, it is added, will give the company more maintenance capacity as part of the modernization of Serbia’s railway system. The Zemun depot will become the main maintenance site for its fleet, and the only one suitable for its recently acquired Electric Multiple Units, financed by the EBRD.

As well as improving servicing, the project will have a knock-on effect on the quality of passenger services, the useful life of the fleet and the growth of rail passenger transport. This shift from road to rail and the lower CO2 emissions that go with it are among green benefits, as are plans to integrate energy efficient technologies into the project. An action plan to further improve corporate governance will also be adopted and implemented, the press release says.

Srbijavoz a.d. Beograd

Ministarstvo finansija Republike Srbije

EBRD Evropska banka za obnovu i razvoj Beograd

rail maintenance depot Zemun

EBRD transport team

EBRD Belgrade

Dusan Vujovic

Jugoslav Jovic

Sue Barrett

Daniel Berg

modernization of railway system of Serbia

maintenance of rail fleet