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China Will Provide 85% of the Financing to Hungary-Serbia Railway

Hungary-Serbia railway is expected to get a total investment of 2.89 billion US dollars, China will provide 85% of the financing. Currently, Hungary, Serbia and Macedonia’s railway companies are stepping up the Construction scheme.
On December 17, 2014, the three prime ministers of China, Hungary, Serbia signed the memorandum of understanding of Hungary-Serbia railway which is connecting Budapest and Belgrad. The contents of the memorandum of understanding is not open to the public. According to published reports, the railway has a total length of 374 km, the modernization of 40km in Serbia segment is completed at present, the remaining 334 kilometers still need to be transformed from single track to double track in order to achieve full electrification and high-speed.