Italian consortium starts Gilje-Paracin railroad upgrade

An Italian consortium has started works on the upgrade of the 10.5-kilometre (km) Gilje-Paracin railway section in Serbia to adapt it to speed of up to 160 km per hour, Belgrade-based media reported on Tuesday.

Italiana Costruzioni, Consorzio Armatori Ferroviari and Consorzio Stabile should complete works on the section by April 2014. Investments will stand at 16.2 million euro ($20.9 million), Tanjugbiz news agency reported.

The project is being funded with the proceeds of a loan from the European Bank for Reconstruction and Development (EBRD).